Market Overview

Bank of America Reiterates Underperform on L-3 Communications Holdings Following Meeting with CFO

Share:
Related LLL
Risk-Off, Defense On: One Credit Suisse Theme Of 2016
A Shift Could Be Coming In The Defense, Aerospace Sector

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.

Latest Ratings for LLL

DateFirmActionFromTo
Feb 2016Bank of AmericaUpgradesUnderperformBuy
Jan 2016Credit SuisseMaintainsOutperform
Nov 2015JP MorganMaintainsNeutral

View More Analyst Ratings for LLL
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Reiteration Analyst Ratings

 

Related Articles (LLL)

View Comments and Join the Discussion!

Get Benzinga's Newsletters