Is L3Harris the Best Defense Play Amid Increased Military Spending?
View original at finance.yahoo.comIs L3Harris the Best Defense Play Amid Increased Military Spending? This article first appeared on GuruFocus. L3Harris Technologies (NYSE: LHX) may not carry the household name status of defence giants Lockheed or Raytheon, but I wouldn't mistake that for irrelevance…
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Wall Street has Strong Buy rating overall on L3Harris
80% confidenceForward EPS guidance appears conservative given strong order momentum and robust defense budget
80% confidenceL3Harris offers compelling mix of quality and growth, recommendation is Buy
80% confidenceL3Harris is initiating a Buy rating
80% confidenceL3Harris may be underestimated by the market despite being well-positioned strategically
80% confidenceSeveral analysts see upside to $280 range with some looking down to $212
80% confidenceRecent analyst downward revisions tied to accounting adjustments, not underlying demand issues
80% confidenceThe Aerojet acquisition de-risks L3Harris business by adding long-cycle, platform-agnostic revenue stream
80% confidenceL3Harris guidance represents about 7% growth in EPS
80% confidence