In a report published Tuesday, Jefferies analyst Jason Kupferberg reiterated a Hold rating on Leidos Holdings LDOS, but lowered the price target from $45.00 to $44.00.
In the report, Jefferies noted, “Incremental info vs. the pre-announcement on 12/3 includes: 1) declared $0.32/qtr cash dividend (~3% yield), 2) 20M share buy-back authorization (~25% shares o/s), 3) strong book-to-bill of 1.7, 4) gov't payment delays causing cash flow to shift from F14 to F15, 5) elements supporting F15 op margin target of 8%+ remain intact. Maintain Hold.”
Leidos Holdings closed on Monday at $41.57.
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