Leidos Holdings (LDOS) PT Raised to $166 at TD Cowen

TD Cowen analyst Cai von Rumohr raised the price target on Leidos Holdings (NYSE: LDOS) to $166.00 (from $155.00) while maintaining a Buy rating.

The analyst commented: "Despite a VA funding delay in H2, hiked 2024 guide has opportunity thanks to Q2's medical exam spike; a tough exam compare next year is apt to be outweighed by improvement elsewhere, allowing above-consensus adj. EPS of $9.55, in our view. The stock's 5% post Q2 selloff looks extreme, and we're hiking our PT to $166, a 13.5x 2024E TEV/EBITDA."

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