Bank of America Reiterates Underperform on L-3 Communications Holdings Following Meeting with CFO
In a report published Monday, Bank of America reiterated its Underperform rating and $77.00 price target on L-3 Communications Holdings (NYSE: LLL).
Bank of America noted, “We hosted a lunch meeting with Ralph D'Ambrosio, SVP and CFO of L-3 Communications on Friday. We walked away from the meeting with a better understanding of the competitive backdrop for LLL. However, considering the fiscal pressure on the Department of Defense and uncertainty regarding the budget, we remain comfortable with our conservative estimates. We are leaving our PO of $77 unchanged.”
L-3 Communications Holdings closed on Friday at $77.18.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.