Stifel analyst Bert Subin raised the firm’s price target on Leidos to $165 from $160 and keeps a Buy rating on the shares. Following a deep dive on Leidos, the firm thinks the company’s profitability could be impacted by Health & Civil normalization and improvement in other segments. The firm sees “a still solid trajectory” for the H&C segment, though EBITDA should decline year-over-year in 2025, adding that it believes tailwinds from other segments will help offset the headwind. The firm adds that it believes Leidos is “more likely to beat than miss 2Q estimates” and it would expect a guidance midpoint increase for adjusted EPS.
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