SAIC price target lowered to $82 from $94 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on SAIC (SAIC) to $82 from $94 and keeps a Sell rating on the shares. SAIC’s preliminary Q4 results show declining revenue for the quarter and the coming year, driven by a lost re-compete and persistent government enterprise IT headwinds, the analyst tells investors in a research note. Shifts in U.S. government spending priorities are increasing competition and pressuring margins in the Government IT & Services segment, the firm says.