BMO Capital analyst Keith Bachman lowered the firm’s price target on Telos to $3 from $4 and keeps a Market Perform rating on the shares. The company delivered upside to the quarter with the beat mostly in Secure Networks and the firm is also encouraged by the ramp of TSA precheck locations, but the guidance for the second half of the year was well below consensus estimates due to the elongated protests and push outs of the large contracts, the analyst tells investors in a research note. “Great uncertainty” remains on the long-term revenue and profit opportunity for Telos, BMO added.
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