Wall Street Shrugs at Federal IT Sector

Not too many stock analysts cover the federal government information technology sector. Not sure why, given federal government IT spending tops about $100 billion, when including the unreported "black budgets" in the intelligence agencies.

But maybe times are changing. Gregory Wowkun, a securities analyst with Banc of America, just started covering the federal government IT sector, according to an Associated Press article. Wowkun's initial rating for the group: "neutral." Yawn.

Wowkun argues that spending on the Iraq and Afghanistan wars will draw funds for IT modernization from other agencies. Still, Wowkun had some buy recommendations, including SI International Inc. and SRA International.