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

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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
Dec 2016Bank of AmericaDowngradesBuyNeutral
Dec 2016Deutsche BankMaintainsBuy
Nov 2016BarclaysUpgradesEqual-WeightOverweight

View More Analyst Ratings for LLL
View the Latest Analyst Ratings

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

 

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