Stifel analysts increased their price target for CACI International (NYSE:CACI) to $500 from $440, while maintaining a Buy rating on the stock.

The analysts highlighted CACI as one of his top picks due to the company's rising win rate, strong growth prospects, favorable exposure, and potential for long-term margin improvement. The updated model now includes recently secured multi-billion dollar contracts, such as the NASA NCAPS, which justifies a higher price target. Previously, a 13.5x multiple was applied to fiscal 2025 EBITDA, but with over $20 billion in awards over the past 18 months, the analysts believe CACI is structurally positioned for future free cash flow growth.

The primary risk to monitor is execution, as the company ramps up various new contracts simultaneously, but the analysts expect the current momentum to continue.