Oppenheimer Downgrades LLL To Underperform

Oppenheimer has downgraded L-3 Communications Holdings (NYSE: LLL) from Perform to Underperform.

According to Oppenheimer, "We are downgrading LLL to Underperform from Perform on declining growth trends at the company, a dependency on O&M budget accounts, which we see as more at risk as operations wind down in the coming years, and continuing uncertainty of the budget environment as we remain under a continuing resolution."

Oppenheimer has also lowered the Price Target on LLL from $85 to $83.

LLL closed at $79.52 on Friday.