Can Flex compile Flash Lite 3 and up?

I am wondrering if Flex can compile to Flash Lite, it is from greath importance if it can, and how ( because i am not finding anywhere an option to switch o开发者_Python百科r something ) ?

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Flash Lite 3 is still ActionScript 2, so I doubt.

I used to use MTASC for command line compiling for Flash Lite and going around having to use the Flash IDE.