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UPDATE: L-3 Communications Downgraded at Bank of America

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Deutsche Bank Bullish On Defense Stocks After 'Positive Inflection' In U.S. Defense Spending
Buckingham Research Initiates L-3 Communications With Buy

A report published Tuesday morning by Bank of America has downgraded L-3 Communications Holdings (NYSE: LLL) from Neutral to Underperform, according to analyst Ronald Epstein. Price target remains at $106.

Epstein noted, "In our view, LLL remains vulnerable to cuts as more than half of its business comes from short-cycle contracts and 22% of 2012 sales were derived from the US Army."

LLL closed Monday at $105.58 and is currently trading down to $105.21.

Latest Ratings for LLL

DateFirmActionFromTo
Mar 2015Deutsche BankMaintainsBuy
Mar 2015Buckingham ResearchInitiates Coverage onBuy
Feb 2015BarclaysMaintainsEqual-weight

View More Analyst Ratings for LLL
View the Latest Analyst Ratings

Posted-In: Bank of America Ronald EpsteinAnalyst Color Downgrades Analyst Ratings

 

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