Update: BofA Securities Downgrades Leidos to Neutral From Buy, Cuts Price Target to $125 From $200

MT Newswires Live06-17 22:15

(Updates to include BofA's commentary)

BofA Securities Downgrades Leidos (LDOS) to neutral from buy, which reflects increasing pressure across what was once a blooming healthcare portfolio.

The value of the company's defense portfolio and its strong alignment with DoW's priorities, including small cruise missiles, C2, counter UAS, hypersonics, and unmanned maritime solutions are still recognized but investors are unlikely to give credit for full value of the opportunities until the results begin to materialize, analysts led by Mariana Perez Mora wrote in a Wednesday note.

Additionally, there are "no meaningful signs" of an accelerated sustained growth, the analysts mentioned.

The analysts also cut Leidos' price target to $125 from $200.

Leidos has an average rating of overweight and mean price target of $174.93, according to analysts polled by FactSet.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 110.30, Change: -3.29, Percent Change: -2.89

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