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Fly News Breaks for May 29, 2019
LLL, HRS
May 29, 2019 | 08:01 EDT
Barclays analyst David Strauss raised his price target for Harris (HRS) to $245 from $205 saying his updated merger model indicates additional upside compared to his prior forecast, with "well above peer group" growth in 2020-2021 on both an adjusted earnings and free cash flow basis. Even with the stock's recent outperformance, he estimates the combined Harris, L3 Technologies (LLL) still trades at a ~10% discount to defense peers. Strauss keeps an Overweight rating on Harris shares.
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