Wells Fargo Upgrades L3Harris Technologies (LHX) to Overweight, 'Risk-Reward Improved'

Wells Fargo analyst Matthew Akers upgraded L3Harris Technologies (NYSE: LHX) from Equal Weight to Overweight with a price target of $209.00 (from $204.00).

The analyst comments "We are upgrading LHX to OW, where we think estimates have troughed, while we see catalysts to realize value, including estimates moving higher to incorporate AJRD, a December investor day that likely highlights new long-term targets, and divestiture of non-core assets, which could speed the company's de-leveraging (see our related note). We think LHX's portfolio lends itself to growth at least in-line with its defense peers over the coming years, while the stock trades at a significant discount."

For an analyst ratings summary and ratings history on L3Harris Technologies click here. For more ratings news on L3Harris Technologies click here.

Shares of L3Harris Technologies closed at $172.72 yesterday.

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