UPDATE: JPMorgan Upgrades Leidos Holdings (LDOS) to Overweight

(updating comment)

JPMorgan analyst Seth Seifman upgraded Leidos Holdings (NYSE: LDOS) from Neutral to Overweight with a price target of $115.00.

The analyst comments "We believe LDOS estimates have bottomed . . . Two consecutive sales guide downs for COVID-19 along with budget concerns have weighed on LDOS performance in recent months but we are looking for improvement in Q3, particularly in the Health segment, which was the ironic source of Leidos’ Q2 miss. Activity in this segment is picking up, however, and we expect it will normalize by Q4 now that Leidos has agreed with the VA on guidelines for conducting exams during the pandemic. Our 2020 company-wide sales estimate $12.44b is around the midpoint of guidance for $12.2-12.6b."

For an analyst ratings summary and ratings history on Leidos Holdings click here. For more ratings news on Leidos Holdings click here.

Shares of Leidos Holdings closed at $88.43 yesterday.

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