L-3 Communications risk/reward favorable after sell-off, says JPMorgan JPMorgan views the risk/reward on shares of L-3 Communications as favorable after the stock sold off 12% on the company's announcement that it is conducting an internal accounting review at Aerospace Systems. JPMorgan does not believe L3's earnings or cash flow power for future periods will be materially impacted. The firm keeps an Overweight rating on the stock and raised its price target for shares to $140 from $135.
L-3 Communications to pay $25.6M to settle fraud suit, Reuters reports L-3 Communications has agreed to pay $25.6M to settle civil claims that the company and its EOTech unit violated the False Claims Act by concealing defects in its weapons sights, reported Reuters. Reference Link