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Fly News Breaks for October 28, 2016
LLL
Oct 28, 2016 | 06:39 EDT
Cowen analyst Cai von Rumohr upgraded L-3 Communications to Outperform and raised its price target to $160 from $155 following the selloff on disappointing Q3 guidance. He likes L-3 Communications' increased M&A focus and said its broad Tier 2 product base gives it lots of potential synergistic opportunities and is the only consolidator in its niche areas of training, ISR, and airport security. The analyst believes L-3 Communications is positioned for 5%+ operating growth in 2017 with upside optionality from M&A.
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