BofA Securities analyst Ronald J. Epstein upgraded L3Harris Technologies, Inc. (NYSE:LHX) to Buy from Neutral and raised the price target to $300 from $240.
The analyst writes that L3Harris introduced its transformation initiative, “LHX Next,” which he initially viewed with cautious optimism.
However, recent results have reinforced our positive outlook, showing that the streamlined, focused LHX is now better positioned to fulfill its commitments and exceed expectations, says the analyst.
Moreover, Ronald says that the missile and munitions industry consensus is clear: demand is relentless, with a promising outlook extending over the next five years.
LHX is well-positioned to capitalize on this trend, standing out as one of the few companies with solid rocket motor (SRM) production capabilities.
LHX’s recent wins, including contracts for the Next-Gen Interceptor …
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