Exelis Inc. (NYSE:XLS) is an aerospace & defense company that was spun off from ITT Corp (NYSE:ITT) on October 31, 2011. The full company background can be found here.
In this article, I will attempt to show that Exelis is undervalued due to several reasons.
Strong Order Log
Of course, the primary issue when examining the Aerospace & Defense industry is the effect of sequestration on revenues. Exelis claims that it has not been given any guidance regarding sequestration (discussed in most recent earnings call here). This is corroborated by an article discussing comments from Lockheed Martin's (NYSE:LMT)...
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