UPDATE: Jefferies Reiterates Buy Rating, Raises PT on SAIC Following F1Q Results, Upside

In a report published Tuesday, Jefferies analyst Jason Kupferberg reiterated a Buy rating on SAIC SAI, and raised the price target from $14.50 to $19.00. In the report, Jefferies noted, “SAI's F1Q was mixed, with weak bookings amid a tough government budget backdrop, but revenue performance much stronger than expected. EPS was light as well. However, SAI reiterated F14 guidance, and our sum-of-the-parts analysis suggests ample upside for shares, factoring in anticipated revenue and cost synergies from the pending split.” SAIC closed on Monday at $14.84.