Leidos Holdings Inc

Company Overview: Leidos Holdings, Inc. (NYSE: LDOS) is a holding company, which operates through its subsidiary, Leidos, Inc. It is a technology, engineering and science company that provides services and solutions in the defense, intelligence, civil and health markets, both domestically and internationally. It has three segments. Defense Solutions segment provides technologically advanced services, solutions, and products to a customer base.

As per our previous US Inflation report published on ‘LDOS’ on 13^th October 2023, Kalkine provided a ‘Buy’ stance on the stock at USD 94.52 based on “Leidos' strong Q2 2023 financial performance, characterized by a revenue increase, impressive net income and earnings per share growth, robust cash flow management, significant net bookings, and a substantial backlog, along with positive forward guidance” and the stock price has now moved by ~10.96% since then and the price has crossed resistance 1 and near to resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

LDOS’s Daily Chart

Considering the resistance around the range of USD 105.00 – USD 115.00, attainment of resistance 1 level, current trading levels, risks associated, and volatile market conditions on the back of rising interest rates, a ‘Sell’ rating is assigned to the “LDOS” at the current market price of USD 104.87 (as of 15 November 2023, at 07:15 am PST).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is November 15, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’