Stifel Nicolaus Maintains Hold on SAIC

Stifel Nicolaus reiterates its Hold rating on SAIC, Inc. (NYSE: SAI) as the company reports in-line ex-loss provision.

Stifel comments, “Overall, SAI reported results adjusted for a loss provision about in line with expectations. The large CityTime loss provision was expected (the exact amount was not known though). … We are concerned about the company's ability to maintain its relatively Morning Research Summary December 07,2011 Page8high margins in an increasingly competitive environment, particularly as revenues are flat or declining, which makes us less confident in our FY13 estimates for SAI.”

SAI closed at $12.15 per share on Tuesday.