Leidos price target lowered to $103 from $116 at Barclays

Barclays analyst Colin Canfield lowered the firm’s price target on Leidos to $103 from $116 and keeps an Overweight rating on the shares. The analyst said record backlog and improving labor trends are being overshadowed by inconsistent margin performance while noting valuation is now lowest since late 2018 and sentiment will take some time to recover.