Goldman Sachs Downgraded L-3 (LLL) to Conviction Sell
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Goldman Sachs downgraded L-3 (NYSE: LLL) from Neutral to its Conviction Sell List and lowered their downside price target from $71 to $66, representing 15% downside. The firm cited disproportionate exposure to Iraq, top-line headwinds in 2010, and they see the growth premium given to LLL disappearing.
The firm removed Northrop Grumman (NYSE: NOC) from the Conviction Sell List, while maintaining a Sell rating.
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