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Fly News Breaks for October 28, 2016
LLL
Oct 28, 2016 | 06:14 EDT
Deutsche Bank analyst Myles Walton views the 7% post-earnings selloff yesterday in shares of L-3 Communications as overdone. Despite the weaker than expected margins, L-3's cash outlook is unchanged for 2016 and its initial 2017 cash outlook is above expectations, Walton tells investors in a research note. He believes the stock is undervalued and keeps a Buy rating on the name with a $160 price target.
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