BofA raised the firm’s price target on Leidos to $165 from $160 and keeps a Buy rating on the shares. Leidos’ Q2 earnings report marked a full year under current CEO Tom Bell, notes the firm, which points out that the company reported a record adjusted EBITDA margin of 13.5% and saw adjusted EPS grow 50% year-over-year. The firm thinks that Bell’s work thus far positions the company well to continue to thrive given tech differentiators, customer intimacy, and a strong track record of execution, the analyst tells investors.
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