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Fly News Breaks for July 11, 2018
LLL
Jul 11, 2018 | 08:53 EDT
Jefferies analyst Sheila Kahyaoglu believes L3 Technologies is emerging from a multi-year portfolio reshaping that should bolster its sales growth and margin outlook. The analyst expects L3's sales grow at 5% annually through 2020 and its EBIT margins to expand by 200 basis points. However, the stock's valuation suggests that the improvement is largely baked into expectations, without factoring in execution risk, Kahyaoglu tells investors in a research note. She raised her price target for L3 to $220 from $218 and keeps a Hold rating on the name.
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