Argus upgrades Leidos to Buy given current defense spending trends

As previously reported, Argus upgraded Leidos to Buy from Hold with a $120 price target. The company is well positioned to take advantage of defense spending trends that focus on cybersecurity and data analytics, among other priorities, and its new CEO has signaled confidence in the future with a hike to the dividend, the analyst tells investors in a research note. Leidos bookings and the backlog are also growing, while its margins are starting to improve, the firm added.