An analyst upgraded L-3 Communications Holdings Inc. Thursday, saying the defense contractor likely won't be affected by a change in the U.S. presidency.
Cowen & Co. analyst Cai von Rumohr boosted his rating on the New York-based company to "Outperform" from "Neutral."
The company's products and services don't include major platforms apt to be targets for cutbacks under a new administration, Rumohr said.
"Iraq-related business (6 percent of 2009 revenues) is mainly intelligence/support work likely to be sustained in a troop drawdown," Rumohr said in a note to clients.
So far this year, shares have dropped 17 percent.
A company representative was not immediately available for comment.
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