Market Overview

UPDATE: Bank Of America Upgrades L-3 Communications On Increased Upside

Share:
Related LLL
Defense Shares Diverging On Mixed Outlooks
Earnings Scheduled For January 29, 2015
L-3 Communications Holdings (LLL) Q4 2014 Results - Earnings Call Transcript (Seeking Alpha)

In a report published Thursday, Bank of America analyst Ronald J. Epstein upgraded the rating on L-3 Communications Holdings (NYSE: LLL) from Underperform to Buy, and raised the price target from $117.00 to $146.00.

In the report, Bank of America noted, “We are upgrading LLL to Buy from Underperform. We are raising our PO to $146 from $117. The most significant driver for the double upgrade is the change in our valuation methodology for LLL to DCF, which better captures LLL's capital deployment strategies and pension treatment as employed by defense pure plays, in our view. Previously, we were valuing the company using relative valuation with P/E multiples. Our updated PO implies 20% upside to the current stock price.”

L-3 Communications closed on Wednesday at $121.06.

Latest Ratings for LLL

DateFirmActionFromTo
Jan 2015BarclaysMaintainsEqual-weight
Jan 2015Deutsche BankMaintainsBuy
Nov 2014BarclaysMaintainsEqual-weight

View More Analyst Ratings for LLL
View the Latest Analyst Ratings

Posted-In: Bank of America Ronald J. EpsteinAnalyst Color Upgrades Analyst Ratings

 

Related Articles (LLL)

Around the Web, We're Loving...

Get Benzinga's Newsletters