Wells Fargo downgrades CACI International (CACI) to Underperform on ``Sequestration'' impact
Wells Fargo downgraded CACI International from Market Perform to Underperform and cut its valuation range from $54-$57 to $45-$47 saying the Sequestration will likely and should impact services relatively more.
An analyst said that San Francisco-based Wells Fargo might be boosting reserves because of some of its holdings in the California real estate market, which has been very hard hit by the housing slump.