These Analysts Raise Their Forecasts On Leidos Following Strong Earnings

Earnings Performance - Leidos Holdings reported better-than-expected Q2 fiscal 2024 earnings with revenue growth of 8% YoY to $4.13 billion, surpassing the analyst consensus estimate of $4.06 billion [1] - Adjusted EPS for Q2 fiscal 2024 was $2.63, up 46% YoY, exceeding the analyst consensus estimate of $2.27 [1] Revenue and EPS Guidance - Leidos expects fiscal 2024 revenue to be in the range of $16.1 billion to $16.4 billion, slightly higher than the prior range of $16.0 billion to $16.4 billion [2] - The company raised its fiscal 2024 adjusted EPS guidance to $8.60 - $9.00, up from the prior range of $8.40 - $8.80, compared to the consensus estimate of $8.82 [2] Analyst Reactions - RBC Capital maintained a Sector Perform rating on Leidos but raised the price target from $140 to $145 [3] - JP Morgan maintained an Overweight rating on the stock and increased the price target from $165 to $175 [3] Market Performance - Leidos shares fell 2% to $143.04 following the earnings announcement [2]