TD Cowen analyst Gautam Khanna downgraded Leidos (LDOS) to Hold from Buy with a price target of $165, down from $200. The company faces a transition in 2025 following 2024’s “explosive growth,” which limits the stock’s upward re-rating prospects, the analyst tells investors in a research note. Further, negative investor sentiment is afflicting the government services sector, which is unlikely to improve for many quarters, contends TD. The firm prefers higher organic growth stories in the group like CACI (CACI) and Booz Allen (BAH).
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