JPMorgan downgraded SAIC (SAIC) to Neutral from Overweight with a price target of $115, down from $140. The company’s revenue outlook has weakened in recent months and its pivot is proving more challenging than expected under the Trump administration, the analyst tells investors in a research note. The firm says SAIC has struggled to generate on-contract growth. It cites the company’s “meaningfully” cut sales outlook and the “sluggish” revenue environment expected in the coming quarters for the downgrade.
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