Kubasik Lays Out Vision at L-3's Investor Day; Raising FVE
L-3 Technologies held its 2017 investor day on Dec. 5. The meeting served as a coming-out party for CEO-in-waiting Chris Kubasik. We’ve updated our model to include the Vertex divestment: Vertex is an underperformer, but we think its defense services exposure will prove valuable to some buyers, resulting in a respectable sale price. We also raised our margins slightly in the later years of our forecast due to a stronger focus on driving efficiencies from the new CEO. The result of these adjustme...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.
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