Defense budget growth and improved performance will drive margin expansion at L-3 Technologies.
Narrow-moat L-3 Technologies reported its first-quarter results, and following the earnings release, we think L-3 is running ahead of its updated 2017 guidance. We’re planning to revise our forecasts for 2017 slightly upwards, and we’re also decreasing our assumed U.S. statutory tax rate to 25%, reflecting our view that tax reform is more likely than not to occur. We expect our $147 fair value estimate to increase by roughly $16.Revenue increased 13% year over year to $2.67 billion due primari...
L3 Technologies is a defense technology company. The company's segments include: Intelligence, Surveillance and Reconnaissance systems, which provides engineering, modernization and sustainment solutions for military and various government aircraft, ground support equipment and other platforms; Communications and Networked Systems, which provides network and communication systems, communications products, radio frequency components, satellite communication terminals and space, microwave and telemetry products; and Electronic Systems, which provides a range of products and services, including components, products, subsystems, systems and related services to military and commercial customers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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