Telos price target lowered to $2.50 from $3.50 at DA Davidson

DA Davidson lowered the firm’s price target on Telos (TLS) to $2.50 from $3.50 and keeps a Neutral rating on the shares. The company’s Q4 results were nicely ahead, particularly on EBITDA, but its Q1 guidance was mixed, with revenue modestly below EBITDA modestly ahead of estimates, the analyst tells investors in a research note. The firm adds that the new administration seems to be putting new program wins on hold, creating some new business risk.