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Fly News Breaks for February 7, 2020
Feb 7, 2020 | 07:29 EDT
As previously reported, Benchmark analyst John Sullivan initiated coverage of L3Harris Technologies with a Buy rating and $280 price target. Electronic warfare is penetrating nearly every aspect of Defense Department budgets, and L3Harris is well positioned to take share in future budgets given its broad based electronic warfare exposure and commercial model favored by the DoD, contends Sullivan. Meanwhile, integration targets are exceeding expectations and divestitures are shifting the company's portfolio mix towards higher margin solutions, the analyst added.
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