SAIC's $130B Pipeline Boosts Outlook, Booz Allen Faces Valuation Challenge, Says JP Morgan

JP Morgan analyst Seth M. Seifman changed the rating on federal IT services companies, Science Applications International Corporation SAIC and Booz Allen Hamilton Holding Corporation BAH. The analyst upgraded Science Applications to Overweight from Neutral and raised the price target to $170 from $150. During the April Investor Day, management emphasized plans to transition SAIC toward higher-value work, which is still in its early stages. Meanwhile, the analyst notes that last quarter's results showed that ...