Leidos price target raised to $112 from $105 at RBC Capital

RBC Capital analyst Ken Herbert raised the firm’s price target on Leidos to $112 from $105 and keeps a Sector Perform rating on the shares. The analyst cites investor site visit at the company’s Dynetics facility, which he contends represents a key aspect of Leidos product portfolio and is expected to see 6% growth over the next several years. The company did not provide an update on its 2023 or 2024 financial targets, but the incremental detail on Dynetics supports confidence in Leidos’ product strategy, Herbert tells investors in a research note.