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InvestorGuide Stock Analysis

L-3 Communications to Purchase Titan Corp.
Excerpt from the InvestorGuide.com Stock of the Day on 6/3/2005

L-3 Communications Holdings has announced that it has agreed to purchase Titan Corp., a defense contractor, for nearly $2 billion, including the assumption of $680 million in debt. The deal will surely make the satellite and marine communications systems manufacturer a major player in U.S. military and intelligence contracting industry, but how much will current Titan legal problems affect L-3 in the future.

L-3 has agreed to pay Titan shareholders $23.10 a share, a mere 1.3% percent premium on the price of the stock, but a much more significant premium than the $20 a share Lockheed Martin offered last year before their deal failed. The Maryland based Lockheed called off the deal as Titan came under a federal probe looking into whether or not employees bribed foreign officials to win contracts. While Titan has agreed to settle securities law class actions and derivative suits pending in both federal and state courts in California and Delaware as part of the deal, the impending suits could still present some problems for L-3, but only time will tell. More >

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Morningstar Analysis for L-3 Communications Holdings

L-3 Communications Holdings (LLL) Upgrades

Date
Analyst
Old Rating
New Rating
07/14/2009
JP Morgan
Neutral
Overweight
04/27/2009
Bank of America
Underperform
Neutral
01/13/2009
Credit Suisse
Neutral
Outperform
07/07/2008
Gabelli
Hold
Buy
07/03/2008
Cowen & Co.
Neutral
Outperform
01/23/2008
Friedman Billings
Market Perform
Outperform

L-3 Communications Holdings (LLL) Downgrades

Date
Analyst
Old Rating
New Rating
11/04/2009
Credit Suisse
Outperform
Neutral
09/24/2009
JPMorgan
Overweight
Neutral
04/24/2007
Friedman Billings Ramsey
Market Perform
Outperform
02/23/2007
Banc of America
Neutral
Sell
01/08/2007
Caris & Company
Below Average
Average
12/18/2006
Credit Suisse
Neutral
Outperform

L-3 Communications Holdings (LLL) New Coverage

Date
Analyst
Rating
05/29/2009
BB&T Capital
Buy
05/14/2009
Morgan Joseph
Hold
12/12/2008
Soleil Securities
Sell
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