Jefferies Starts Exelis (XLS) at Buy, Leverage in an Weak Spending Environment

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Jefferies initiates coverage on Exelis (NYSE: XLS) with a Buy. PT $13.50.

The firm comments, "The company's attractive portfolio of electronic warfare solutions, radar, and communication products are aligned with customer needs, and a focus on payload over platform by DoD should help the company navigate the austere spending environment."

For an analyst ratings summary and ratings history on Exelis click here. For more ratings news on Exelis click here.

Shares of Exelis closed at $10.34 yesterday, with a 52 week range of $8.25-$12.88.

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