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Fly News Breaks for May 2, 2016
LLL
May 2, 2016 | 06:36 EDT
Goldman analyst Noah Poponak upgraded L-3 Communications to Buy and increased his price target to $156 from $138. The analyst said L-3 has underperform the Defense peer group for the last two years and believes bar remains low and and sees room for upward estimate revisions. Poponak continues to believe the US Defense budget is at a trough and expects that to translate to an acceleration in L-3 organic revenue growth and margin improvement ahead.
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