SAIC price target raised to $135 from $125 at Truist

Truist analyst Tobey Sommer raised the firm’s price target on SAIC to $135 from $125 and keeps a Hold rating on the shares. The firm cites the company’s Q2 earnings beat and guidance raise while also noting that the management expects the soft bookings evidenced by 0.6-times book-to-bill ratio to improve over the next four quarters to 1.2-times by the first half of FY26, the analyst tells investors in a research note. Results in the quarter have benefited from ramping awards such as the GMASS, AOC Falconer, and Cloud One contracts, the firm added.