Truist raised the firm’s price target on Leidos (LDOS) to $220 from $195 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results in Government Services names. The firm is cautious on the sector heading into earnings due to potential near-term risk estimates for Middle East exposure and sub-par book-to-bill from the war, though it also believes that investors should focus on companies with Defense/Admin priority alignment, the analyst tells investors in a research note. The stock is among the FedCiv-exposed names that could see multiple expansion if Democrats win in the midterms, Truist added.
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