CACI resumed with a Buy at Stifel

Stifel resumed coverage of CACI (CACI) with a Buy rating and $576 price target The company’s international focused bidding strategy has built a “high-quality backlog” which can sustain mid-single-digit growth and higher margins, the analyst tells investors in a research note. The firm says its Buy rating reflects CACI’s premium valuation being justified through its ongoing financial outperformance, growing exposure to growth vectors in new defense, and strong acquisiotn history.