Jefferies Upgrades SAIC, Inc. (SAI) to Buy, Says Worst Is Over

Jefferies upgraded SAIC, Inc. (NYSE: SAI) from Hold to Buy with a price target of $16.

The firm cited: 1) we believe the new and re-energized management team has set very achievable guidance, 2) recently introduced, bigger than expected dividend addresses concerns re: capital deployment strategy, and provides downside protection for shares, 3) we think the Federal IT end market, while still soft, has stopped deteriorating, 4) attractive valuation.

For an analyst ratings summary and ratings history on SAIC, Inc. click here. For more ratings news on SAIC, Inc. click here.

Shares of SAIC, Inc. closed at $13.32 yesterday.

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