NEW YORK, Nov 8 (Reuters) - Though defense stocks have fallen out of favor, L-3 Communications Holdings could prosper due to its businesses serving a growing demand for unmanned aircraft and other technology used in so-called asymmetrical warfare, Barron's said on Sunday.
L-3's shares are attractive at $76, or 9.5 times estimated 2010 earnings, a multiple representing a 30 percent discount to its rivals.
The company is on track to earn $7.51 a share this year, with profit expected to climb over the next two years driven by higher sales and wider profit margins, Barron's said in its Nov. 9 issue.
(Reporting by Joseph A. Giannone, editing by Maureen Bavdek) Keywords: L3COMMUNICATIONS/ (joseph.giannone@thomsonreuters.com; +1 646 223 6184; Reuters Messaging: joseph.giannone.reuters.com@reuters.net ) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
L-3's shares are attractive at $76, or 9.5 times estimated 2010 earnings, a multiple representing a 30 percent discount to its rivals.
The company is on track to earn $7.51 a share this year, with profit expected to climb over the next two years driven by higher sales and wider profit margins, Barron's said in its Nov. 9 issue.
(Reporting by Joseph A. Giannone, editing by Maureen Bavdek) Keywords: L3COMMUNICATIONS/ (joseph.giannone@thomsonreuters.com; +1 646 223 6184; Reuters Messaging: joseph.giannone.reuters.com@reuters.net ) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.