Jefferies Reiterates Buy and PT of $20 on SAIC

Jefferies reiterated its Buy rating on SAIC (NYSE: SAI). At the same time, Jefferies left its price target on the company's stock unchanged at $20 after a meeting with the company's management.

In a research report published today, Jefferies states, "After several days of investor meetings with management, we came away with a reinforced belief in that SAI could see some modest revenue growth by H2. This, combined with better margins and solid share buybacks translate into solid risk:reward at current valuation levels, in our opinion."

On Friday, SAIC closed the week at $16.20.