New CEO might be catalyst SAIC needs, says Stifel

After SAIC (SAIC) announced the board appointed James Reagan as Interim Chief Executive Officer to immediately replace Toni Townes-Whitley, Stifel says he was “surprised by the board’s decision,” but doesn’t disagree with the board’s likely frustration with the rate and magnitude of improvement. Reagan is a “steady-hand and a good pick for an interim CEO, but likely not a permanent solution, adds the analyst, who thinks a new CEO “might be the catalyst the company needs to jump start strong growth.” The firm keeps a Buy rating on SAIC shares.