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HRS

Harris

$154.88

0.61 (0.40%)

, LLL

L3 Technologies

$195.99

0.74 (0.38%)

08:53
10/15/18
10/15
08:53
10/15/18
08:53

Harris, L3 should trade up 5% on merger deal, says Jefferies

Jefferies analyst Sheila Kahyaoglu believes both Harris (HRS) and L3 Technologies (LLL) should trade up 5% following the announced merger of equals. The analyst bases this on the combined company's $3B of free cash flow generation in 2022and a 6.5% free cash flow yield, discounted back. She has a Buy rating on Harris and Hold rating on L3. Harris in premarket trading is up 5.4% to $163.25 while L3 is up 6.7% to $208.89.

HRS

Harris

$154.88

0.61 (0.40%)

LLL

L3 Technologies

$195.99

0.74 (0.38%)

  • 15

    Oct

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    Oct

  • 16

    Oct

HRS Harris
$154.88

0.61 (0.40%)

10/15/18
FBCO
10/15/18
NO CHANGE
Target $272
FBCO
Outperform
L3 Technologies price target raised to $272 from $238 at Credit Suisse
Credit Suisse analyst Robert Spingarn raised his price target for L3 Technologies (LLL) to $272 from $238 after the company and Harris (HRS) announced an all-stock merger of equals. Though some may read into Harris buying L3 Technologies, the analyst sees this as a true merger of equals. He reiterates an Outperform rating on L3 Technologies' shares.
10/15/18
FBCO
10/15/18
NO CHANGE
Target $209
FBCO
Outperform
Harris price target raised to $209 from $190 at Credit Suisse
Credit Suisse analyst Robert Spingarn raised his price target for Harris (HRS) to $209 from $190 after the company and L3 Technologies (LLL) announced an all-stock merger of equals. The analyst believes this could be "the most strategically significant and shareholder friendly" M&A deal announced since the start of the current A&D consolidation wave. He reiterates an Outperform rating on Harris' shares.
10/15/18
COWN
10/15/18
NO CHANGE
Target $180
COWN
Outperform
L3 Technologies, Harris merger likely to be a winner, says Cowen
Cowen analysts Gautam Khanna and Cai Von Rumohr said the proposed merger between L3 Technologies (LLL) and Harris (HRS) looks like a very good fit with above average cost synergy potential. They believe the deal is likely to be a winner and although there are areas of overlap they do not believe it will be a problem. Von Rumohr reiterated his Outperform rating on L3 Technologies and Khanna reiterated his Outperform rating on Harris Corp. shares.
08/16/18
ARGS
08/16/18
NO CHANGE
Target $190
ARGS
Buy
Harris price target raised to $190 from $170 at Argus
Argus analyst John Eade raised his price target on Harris to $190 and kept his Buy rating after the company's recent earnings beat and FY19 guidance implying high-teen EPS growth in FY19. The analyst notes that Harris should "benefit from a substantial increase in military spending following the March 2018 federal budget agreement", along with a solid earnings growth coming in FY19 and subsequent years. In the near term, Eade expects the demand for the company's tactical communication services to become its strongest growth area. The analyst adds that Harris trades at a slightly premium to the market on price-to-sales multiple basis, but believes that the premium is warranted based on his forecast of 16% EPS growth for the company over the next 5 years.
LLL L3 Technologies
$195.99

0.74 (0.38%)

10/15/18
VERT
10/15/18
UPGRADE
VERT
Buy
L3 Technologies upgraded to Buy from Hold at Vertical Research

TODAY'S FREE FLY STORIES

SYF

Synchrony

$33.97

0.48 (1.43%)

, SLB

Schlumberger

$31.90

-0.06 (-0.19%)

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SLB

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STT

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CFG

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PLSE

Pulse Biosciences

$14.52

0.525 (3.75%)

20:10
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TW

Tradeweb Markets

$43.20

0.87 (2.06%)

19:50
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Syndicate
Tradeweb Markets 17.29M share Secondary priced at $42.00 »

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SWDAF

Software AG

$0.00

(0.00%)

19:33
10/17/19
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19:33
Upgrade
Software AG rating change  »

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PBR

Petrobras

$14.43

-0.22 (-1.50%)

18:57
10/17/19
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18:57
Hot Stocks
Petrobras reports Q3 production 2.878M boepd, up 9.3% »

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MRTN

Marten Transport

$21.52

0.31 (1.46%)

, ISRG

Intuitive Surgical

$529.22

-1.25 (-0.24%)

18:49
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Fly Intel: After Hours Movers »

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MRTN

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$21.52

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ISRG

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$529.22

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ETFC

E-Trade

$39.04

0.02 (0.05%)

WAL

Western Alliance

$46.24

0.53 (1.16%)

TEAM

Atlassian

$122.43

-1.91 (-1.54%)

PRTK

Paratek Pharmaceuticals

$3.46

0.05 (1.47%)

GIL

Gildan Activewear

$35.38

0.095 (0.27%)

BDN

Brandywine Realty

$14.68

0.13 (0.89%)

EXPO

Exponent

$70.82

1.34 (1.93%)

WDFC

WD-40

$182.75

2.41 (1.34%)

VICR

Vicor Corporation

$32.78

1.16 (3.67%)

OZK

Bank OZK

$28.32

0.03 (0.11%)

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ARWR

Arrowhead

$36.61

2.11 (6.12%)

, AMGN

Amgen

$203.60

0.32 (0.16%)

18:43
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Hot Stocks
Arrowhead CEO: We can silence a single gene »

In an interview on…

ARWR

Arrowhead

$36.61

2.11 (6.12%)

AMGN

Amgen

$203.60

0.32 (0.16%)

JNJ

Johnson & Johnson

$136.20

1 (0.74%)

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SXT

Sensient

$66.57

0.4 (0.60%)

18:32
10/17/19
10/17
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Hot Stocks
Sensient raises quarterly dividend 8.3% to 39c per share »

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  • 18

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T

AT&T

$37.82

0.03 (0.08%)

18:31
10/17/19
10/17
18:31
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18:31
Periodicals
HBO Max to stream Studio Ghibli films, Reuters says »

AT&T's upcoming…

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OMAB

OMA

$52.10

0.47 (0.91%)

18:19
10/17/19
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Earnings
OMA reports Q3 net income MXN858M vs. MXN725M last year »

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MAR

Marriott

$120.57

-0.55 (-0.45%)

18:13
10/17/19
10/17
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Periodicals
Marriott near deal for Elegant Hotels valued up to GBP1 / shr, Bloomberg says »

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  • 05

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SPY

SPDR S&P 500 ETF Trust

$299.19

0.78 (0.26%)

, SPX

S&P 500

$0.00

(0.00%)

18:08
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General news
NY Fed's Williams Condition in money markets highly volatile over past month »

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SPY

SPDR S&P 500 ETF Trust

$299.19

0.78 (0.26%)

SPX

S&P 500

$0.00

(0.00%)

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GM

General Motors

$36.20

-0.45 (-1.23%)

17:47
10/17/19
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17:47
Periodicals
GM strike to continue until deal with UAW is ratified, WSJ says »

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  • 29

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T

AT&T

$37.82

0.03 (0.08%)

17:37
10/17/19
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17:37
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17:37
Periodicals
AT&T, Elliott Management in talks to resolve activist campaign, WSJ reports »

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WAL

Western Alliance

$46.24

0.53 (1.16%)

17:27
10/17/19
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17:27
Earnings
Western Alliance reports Q3 EPS $1.24, consensus $1.19 »

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RNLSY

Renault

$0.00

(0.00%)

17:25
10/17/19
10/17
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17:25
Downgrade
Renault rating change at Deutsche Bank »

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LOVE

Lovesac

$19.10

0.63 (3.41%)

17:24
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Park West Management reports 5.1% passive stake in Lovesac »

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  • 17

    Dec

T

AT&T

$37.82

0.03 (0.08%)

17:24
10/17/19
10/17
17:24
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17:24
Periodicals
Breaking Periodicals news story on AT&T »

AT&T in discussions…

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ATVI

Activision Blizzard

$55.60

0.01 (0.02%)

17:16
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Hot Stocks
Activision says Call of Duty to get 'battle pass' feature, 'not loot box system' »

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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

17:11
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10/17
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Hot Stocks
Brandywine Realty sees FY19 year-end core occupancy at 94%-95% »

Also sees FY20 year-end…

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  • 18

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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

17:10
10/17/19
10/17
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17:10
Hot Stocks
Brandywine Realty reports Q3 same-store net operating income up 0.6% »

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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

17:09
10/17/19
10/17
17:09
10/17/19
17:09
Earnings
Brandywine Realty sees FY20 initial FFO $1.41-$1.51, consensus $1.46 »

Sees FY20 same-store net…

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GIL

Gildan Activewear

$35.38

0.095 (0.27%)

17:08
10/17/19
10/17
17:08
10/17/19
17:08
Earnings
Gildan Activewear cuts FY19 adj. EPS view to $1.65-$1.70 from $1.95-$2.00 »

Consensus $1.97. Cuts…

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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

17:07
10/17/19
10/17
17:07
10/17/19
17:07
Earnings
Brandywine Realty narrows FY19 FFO guidance to $1.41-$1.43 from $1.40-$1.44 

Consensus $1.42.

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  • 18

    Oct

BDN

Brandywine Realty

$14.68

0.13 (0.89%)

17:07
10/17/19
10/17
17:07
10/17/19
17:07
Earnings
Brandywine Realty reports Q3 FFO 36c, consensus 36c »

Reports Q3 revenue…

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  • 18

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