ManTech International rises as new COO is named

ManTech International Corp. shares jumped Monday after the government contractor said it hired Lawrence B. Prior III as president and chief operating officer.

Prior, 54, most recently was chief operating officer of San Diego-based SAIC Inc. He joins ManTech early next month.

"Prior's experience should help ManTech in exploiting the large opportunities ahead in cybersecurity, intelligence, and large support programs, especially for the Army," Jefferies analyst Joseph A. Vafi wrote in a client note.

"Additionally, such a solid management hire also helps to add to the attractiveness of the business for any potential acquirer."

Vafi reiterated a "Buy" rating on the shares and a $66 share price target.

ManTech provides software development, engineering, systems integration, security and other services for defense, intelligence, homeland security, state department and space agencies.

In afternoon trading, shares rose $2.58, or 6.6 percent, to $41.92. In the last 52 weeks, the stock has ranged from $32.86 to $62.06.