Leidos price target lowered to $165 from $185 at Truist

Truist lowered the firm’s price target on Leidos (LDOS) to $165 from $185 and keeps a Buy rating on the shares. The company reported a record Q4 book-to-bill of 1.7-times compared with seasonal average of 0.9-times, and while the group likely traded down on news of DOGE cutting contracts at the Department of Education, the weakness in Leidos shares is overdone, the analyst tells investors in a research note. Truist sees 2025 as a pivot year and expects a return to mid-single-digit growth with margin expansion in 2026.