L3Harris Technologies (LHX) PT Raised to $400 at BofA Securities

BofA Securities analyst Ronald Epstein raised the price target on L3Harris Technologies (NYSE: LHX) to $400.00 (from $350.00) while maintaining a Buy rating.

The analyst comments "On Tuesday, January 13, L3Harris (LHX) announced a partnership with DoW aimed at spurring critical solid rocket motor production. LHX will spin off its Missile Solutions business and DoW will invest $1bn in convertible preferred equity in the new business. LHX will retain a majority stake in Missile Solutions, planned to IPO in 2H26. The structure enables investment in building out new solid rocket motor capacity targeting a 3x increase in production by 2030. While the investment and associated demand signal are positives for growth, we remain unsure of the logistics of direct government involvement in defense providers like LHX. We reiterate Buy and raise our PO to $400 from $350 as we expect the reorganization to unlock value for LHX reflected in its multiple."

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