On January 22, 2026, Tobey Sommer of Truist Financial increased his target to 800 for CACI International, implying an approximate 22% upside from recent levels. This revision reflects confidence in the company’s strategic positioning within defense, intelligence and cybersecurity services and is anchored by solid execution in key verticals discussed on the Q2 earnings call.

CACI reported second quarter revenues of 2.22 billion, up 5.7% year-over-year, driven by 4.5% organic growth. Operating income increased 13.9% to 206.5 million, while adjusted earnings per share rose 14.5% to 6.81. Free cash flow more than doubled to 138.2 million, prompting management to raise full-year revenue guidance to a range of 9.3–9.5 billion and adjusted EPS to a range of 28.25–28.92.

In Q2, CACI secured 1.4 billion in new contract awards, with approximately 70% representing new business wins. Notable awards included a 265 million intelligence community task order and the first production order for remote modular terminals for beyond-line-of-sight satellite communications. Total backlog grew 3.1% year-over-year to 32.8 billion, with funded backlog up 7.3% to 4.4 billion.

CACI entered into an agreement to acquire ARKA Group for 2.6 billion in cash, bolstering its space-based sensor portfolio and ground-based software processing capabilities. This acquisitive move complements existing strengths in electronic warfare and Agile software development, positioning the company to meet accelerating national security demands and support its multi-year financial targets.