Cowen & Co. Upgrades L-3 Communications (LLL) to Outperform
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Cowen & Co. upgrades L-3 Communications (NYSE: LLL) from Neutral to Outperform, calling the stock an "oversold safe haven."
The firm notes the stock is off 17% year-to-day, but has a peer-high 12% cash flow yield and a peer-low 29% net buy rating and rising short interest. Cowen sees 20%+ upside over the next 12 months. They think a strong Q2 report (7/24) could provide a trigger.
Cowen also notes the company's products and services don't include major platforms apt to be a cutback target for a new Administration.
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Professional site expectations
An observer on Jul 5, 2008 09:26 AMSince this is a professional site I would expect spelling and grammar to be correct.