Oppenheimer's Takeaways From L-3 Communications Holdings Investor Conference

Oppenheimer published its report on L-3 Communication Holdings (NYSE: LLL) after LLL's Investor Conference on Tuesday.

In a note to clients, Oppenheimer writes, "Guidance for 2010 was unchanged, with a sizeable range of $8.05-8.25 for EPS, vs. our $8.13 (vs. prior $8.09) and consensus $8.19. Guidance calls for $15.6-15.7B in 2010 sales at 11.1% margin and 35% effective tax rate, and our model is in line with that, as is free cash flow of ~$1.3B."

Oppenheimer maintains its Perform rating and $80 price target on LLL.

LLL closed yesterday at $72.44.