UPDATE: J.P. Morgan Raises Price Target on L-3 Communications to $68

According to J.P. Morgan, L-3 Communications LLL prices target was raised to $68. J.P. Morgan said that LLL's quarter was in line operationally, which was refreshing given the large number of “sales miss / margin beat”s we've seen from the company's peers this quarter. “We believe there will certainly be a good time to be a buyer of defense properties in the coming years, but we are not sure it is now, and the success in striking the right timing or lack thereof could be a determining factor in L-3's performance relative to peers. We maintain our N rating.” L-3 Communications closed yesterday at $67.74.