UPDATE: Stifel Nicolaus Initiates Engility Holdings at Hold on Sluggish Expected Growth
Stifel Nicolaus initiated coverage on Engility Holdings (NYSE: EGL) with a Hold rating.
Stifel Nicolaus noted, "We are initiating coverage of Engility Holdings, Inc. (EGL) with a Hold rating because of our expectation of sluggish growth over the next couple of years, mainly due to the company's relatively high exposure to overseas U.S. operations (13% of total revenue in 2012 - although shrinking as U.S. activities overseas wind down) and increasing industry headwinds, such as budget reductions, award delays, and pricing pressure."
Engility Holdings closed at $18.23 on Friday.
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