Zacks Investment Research upgraded shares of CACI International Inc. (CACI) from UNDERPERFORM to NEUTRAL on August 27, 2014, with a target price of $75.00.
We are changing our long-term recommendation for CACI International from Underperform to Neutral as we expect it to perform in line with the broader market. CACI International reported relatively modest fourth quarter fiscal 2014 results with adjusted earnings well exceeding the Zacks Consensus Estimate, although revenues decreased year over year. Stiff competition and regulatory pressure remain possible headwinds for the company. However, the company remains focused on its strategy to grow in large markets, to 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.
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