Truist raised the firm’s price target on Leidos to $175 from $165 and keeps a Buy rating on the shares as part of a broader research note on Government Services. The firm is positive on the sector’s “attractive” absence of economic cyclicality amid market concerns around labor market softness and weaker consumer sentiment, the analyst tells investors in a research note. Truist adds that Leidos has compelling opportunity for capital return and potentially exploring future divests of the SES and Dynetics businesses.
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