Goldman Sachs Maintains Neutral Rating on Computer Sciences Corporation

In a report released late yesterday, Goldman Sachs said that, given the steep 2H ramp implied in Computer Sciences Corporation's (NYSE: CSC) FY12 outlook and high exposure to DoD spend, “we see downside risk to estimates.”

“We believe CSC shares will be guided by the expected closing of the iSOFT acquisition, details of the revised UK NHS contract, the conclusion of the SEC's civil investigation, and its FY11 financial statements,” Goldman Sachs writes. “With multiple moving parts and a steep 2H ramp, we suggest investors remain on sidelines.”

Computer Sciences Corporation closed Tuesday at $39.89.