10 Oversold Stocks Offering High Upside

8. Leidos Holdings Inc. (NYSE:LDOS)

Leidos Holdings Inc. (NYSE:LDOS) is one of the 10 oversold stocks offering high upside.

On May 21, Leidos Holdings Inc. (NYSE:LDOS) stated that it will receive 4 awards under the U.S. Department of State’s Evolve contract to assist in modernizing the IT systems utilized by American diplomats across the globe. The initiative’s main goals are to upgrade infrastructure and applications, increase the reliability of IT services over a global network of embassies and consulates, and improve cybersecurity.

Cloud and data center services, application development services, network and telecommunications services, and customer and end-user support are the 4 main service categories in which Leidos secured awards. With a 12-month basic term and 6 additional option years, the Evolve program is set up as a multiple-award, indefinite-delivery/indefinite-quantity (IDIQ) contract. The State Department’s efforts to modernize its technology will receive long-term assistance under the deal, which has a $10 billion cap.

Later in the first week of June, Sheila Kahyaoglu from Jefferies lowered the price target on Leidos Holdings Inc. (NYSE:LDOS) from $185 to $140. The firm also downgraded the stock from Buy to Hold.

Kahyaoglu noted that the firm’s previous view that defense technology exposure would allow the company to exceed organic growth expectations was inaccurate. Based on that, the analyst made the downward adjustments. Despite that, the revised price target still results in an upside of almost 29%.

Leidos Holdings Inc. (NYSE:LDOS) offers cyber operations services, digital modernization, national security software, intelligence & operational support, and biometrics & CBRNE solutions. It serves government and commercial entities. It also provides health & civil services, defense systems services, and energy & security technologies.