Zacks Investment Research downgraded shares of CACI International Inc. (CACI) from OUTPERFORM to NEUTRAL on May 01, 2014, with a target price of $73.00.
CACI International reported relatively modest third quarter fiscal 2014 results with adjusted earnings well exceeding the Zacks Consensus Estimate, although GAAP earnings and revenues decreased year over year. The company remains focused on its strategy to grow in large markets, introduce new business initiatives, and leverage on mergers and acquisitions to further increase its market share. The company also expects to diligently focus on its operating plans to reward its shareholders with attractive risk-adjusted returns. However, stiff competition and regulatory pressure remain possible headwinds for the company. We are changing our long-term recommendation for the stock from Outperform to Neutral as we expect it to perform in line with the broader market.
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