CACI’s ARKA deal strengthens space platform, says Truist

CACI’s (CACI) announced acquisition of privately held ARKA Group underscores its strategic focus on the expanding space sensor and optics market and strengthens its competitive positioning in the emerging classified space systems arena, Truist tells investors in a research note. While post-close leverage is expected to rise to about 4.3x, the firm has confidence CACI’s ability to delever over time, reinforcing its status as a top pick in Government Services. Truist maintains a Buy rating and $735 price target