Jefferies Reiterates Buy Rating on SAIC (SAI)

Jefferies & Company reiterated its Buy rating on shares of SAIC, Inc. SAI this morning. Jefferies maintains a $23 Price Target on the stock. SAI reported an in-line second quarter results, with EPS of $0.33. Jefferies is "encouraged by an intact F11 revenue outlook (3% -6% internal revenue growth), despite a somewhat soft top-line in FQ1." Jefferies analysts note that "With another quarter of robust bookings, submitted proposals at record levels, and ample balance sheet capacity, we see an attractive risk reward in SAIC shares at current levels." SAIC, Inc. is a provider of scientific, engineering, systems integration and technical services and solutions to all branches of the United States government. Shares are down 1.3% this afternoon, to $15.17.