Early Bird Capital Reiterates Buy And $27 PT On NCI Information Systems (NCIT)

Early Bird Capital reiterated its Buy rating and price target of $27 on NCI Information Systems NCIT in a research report published today. In the report, Early Bird Capital states, "We would expect the stock to be weak today, but would look to the weakness as a buying opportunity as we believe the sector and NCIT are well positioned in the current and future funding environment. Coupled with an attractive valuation we are reiterating our BUY rating and target price of $27, implying a lower target multiple (6.5x CY2012E EV/EBITDA from 7.0x prior). Given the disappointment this quarter and lowered guidance we think this is an appropriate measure." In yesterday's trading, NCI's shares edged up by 0.04% to close the day at $24.10.