Barclays Maintains an 'Equalweight' on L-3 Communications (LLL); Lowering FY13 Estimates

Barclays maintains an 'Equalweight' on L-3 Communications (NYSE: LLL) price target of $78.00.

Analyst, Carter Copeland, said, "We've updated our LLL 2013 and out-year earnings estimates, adjusting them for the Engility spin and other below-the-line changes (namely a higher share count from less aggressive repurchase assumptions). Our 2013 EPS estimate is now lowered to $8.45 (from $8.90). Our full-year 2012 EPS estimate of $7.85 remains unchanged (we had previously adjusted our 2012 estimate following LLL's Q2 earnings)."

All in, Copeland like L-3's business mix and attitude to pursue accretive acquisitions, but current 2013 valuation (5.9x) vs. peers (4.8x), keeps him sidelined.

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 $69.54 yesterday.

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