Argus Starts Leidos Holdings (LDOS) at Buy
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Argus initiates coverage on Leidos Holdings (NYSE: LDOS) with a Buy rating and a price target of $54.00.
The firm notes Leidos recently merged with Lockheed’s Information Systems & Global Solutions unit. They have a positive view of the merger, which should reduce the combined company’s dependence on government contracts and provide significant revenue and cost synergies.
LDOS is trading at just 12.9-times the firm's 2017 EPS forecast, well below the average of 20.5 for peer IT services companies.
Shares of Leidos Holdings closed at $41.55 yesterday.
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