UPDATE: Raymond James Upgrades CACI International

In a note released Tuesday, Raymond James upgraded CACI international (NYSE: CACI) form Underperform to Outperform and announced an $80 price target.

Raymond James analyst Brian Gesuale summarized his earnings outlook stating, "We see a gradually improving macro, diminishing comps through the year, and a handful of company specific tailwinds supporting our more constructive earnings outlook." Gesuale continued, "After last week's pre-release, estimates appear to have de-risked over the next few quarters, and we believe any perceived positive earnings bias could catalyze shares higher during the summer months."

At last check CACI international was trading up ~1 percent at $70.36.