Leidos price target raised to $145 from $140 at RBC Capital

RBC Capital raised the firm’s price target on Leidos to $145 from $140 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. The company’s operating cash flow was positive at $374M, with free cash flow generation of $351M, and while Leidos continues to call out risk in its VBA, or Veterans Benefits Administration, timing, the reset in this business was “very strong” in Q2, the analyst tells investors in a research note.