Deutsche Bank Upgrades L-3 Communications (LLL) to Buy; Against the Grain

Deutsche Bank upgraded L-3 Communications (NYSE: LLL) to Buy with a price target of $77.00.

Deutsche analyst says, "Worst Baked In; Relative Mean Reversion Set to Play Out - We believe the 15% relative discount that has emerged between L-3 and the defense peer group coupled with a lack of interest on the Street (1 buy, 16 neutrals, 2 sells) provides an opportunity to upgrade with likely the worst priced in. Particularly compelling remains the company's 17% free cash flow yield, likely increasing dividend and modest guidance risk."

For an analyst ratings summary and ratings history on L-3 Communications click here. For more ratings news on L-3 Communications click here.

Shares of L-3 Communications closed at $66.91 yesterday.

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