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Fly News Breaks for February 6, 2020
Feb 6, 2020 | 08:17 EDT
Wells Fargo analyst Ed Caso raised his price target for Leidos to $110 from $102 after the Defense Department announced that the company was the awardee of a $7.7B contract to provide IT services to the Navy and Marine Corp through 2028. It has the potential to add $700M or more to annual revenue, which is 5%, or more, of the current revenue run rate, he notes. The analyst has an Equal Weight rating on the shares.