Morningstar

Morningstar, Inc.

Equity Bottom-Up

We are dropping analyst coverage of L3 Technologies. We provide broad coverage of more than 1,500 companies and adjust our coverage as necessary based on client demand and investor interest.

We are placing L3 Technologies under review as we transfer coverage to a new analyst.

<p>The Department of Defense submitted its $718 billion fiscal 2020 budget request to Congress, which represents a 5% increase over fiscal 2019. However, the $247 billion in investment funding (procurement and RDT&amp;E) is more pertinent for defense firms and is slated to only rise 2% year over year. Despite this lackluster growth, the budget is in line with our expectations and as such we're not moving fair values for the contractors we cover. Investors should take away four things: 1) Congress may…</p>

United States

L3 Technologies, Inc. provides communication and electronic equipment. The Company offers surveillance, antenna, aircraft simulation, laser rangefinding, modification, and image intensification equipment. L3 Technologies serves customers worldwide.

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