Truist analyst Tobey Sommer raised the firm’s price target on Leidos (LDOS) to $205 from $175 and keeps a Buy rating on the shares after the company reported “strong” results and increased its 2024 guidance. The firm noted that it expects exam volumes could continue to benefit results in the near-term before eventually turning into tougher comps over time. While volume is not expected to trend up in Q4, management noted elevated pending claims and backlog signals similar levels could continue for the next several quarters or longer, the analyst tells investors in a research note. The firm raised its revenue and adjusted earnings per share estimates for 2024, but for 2025 and 2026, it lowered revenue estimates and raised adjusted EPS estimates.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LDOS:
- Early notable gainers among liquid option names on October 29th
- Morning Movers: McDonald’s lower, Pfizer higher after earnings releases
- Leidos raises FY24 EPS view to $9.80-$10.00 from $8.60-$9.00, consensus $9.08
- Leidos reports Q3 EPS $2.93, consensus $2.02
- LDOS Earnings this Week: How Will it Perform?