Leidos price target raised to $172 from $168 at Wells Fargo

Wells Fargo raised the firm’s price target on Leidos to $172 from $168 and keeps an Overweight rating on the shares. The firm notes stock sold off as Leidos took a charge in Q2 and talked down its second half of the year VA business. However, guidance implies a big second half of the year margin step down, while the company has beat/raised five quarters in a row, with valuation back at a discount to peers, Wells says.