On January 22, 2026, Tobey Sommer of Truist Financial set a new price target for CACI at $800, implying a potential upside of 22.3% from the prevailing share price of $654.36. This upgrade reflects confidence in the company’s recent strategic initiatives, including its strengthened position in defense, intelligence and cybersecurity services. Truist cited robust free cash flow generation and an expanding portfolio of high-value contracts as key drivers underpinning its bullish outlook.

CACI reported second-quarter revenues of $2.22 billion, up 5.7% year-over-year, and adjusted diluted EPS of $6.81, surpassing consensus estimates by 6.3%. Income from operations rose 13.9% to $206.5 million, driven by efficient cost management and higher gross margins. Free cash flow more than doubled to $138.2 million, benefiting from disciplined working capital controls. In response to the strong first half performance, management raised full-year revenue guidance to a range of $9.30–$9.50 billion and adjusted EPS guidance to $28.25–$28.92.

During the quarter, contract awards totaled $1.4 billion, with approximately 70% representing new business, including a $265 million suite of intelligence community engagements and the first production order for remote modular terminals supporting beyond-line-of-sight communications. Total backlog climbed to $32.8 billion, up 3.1% year-over-year, while funded backlog increased 7.3% to $4.4 billion. CACI also announced a definitive agreement to acquire ARKA Group for $2.6 billion, reinforcing its space-based sensor and ground processing capabilities and positioning the company for sustained long-term growth.