Goldman Sachs downgraded CACI (CACI) to Sell from Neutral with a price target of $373, down from $540. CACI is a relative pure play on defense and government services and faces near-term risk from reductions in the Department of Defense budget and federal civilian agency budgets, the analyst tells investors in a research note. The firm expects the company’s book-to-bill to slow near-term, and for organic revenue growth to decelerate and potentially turn negative medium-term.
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