Raymond James raised the firm’s price target on L3Harris Technologies to $220 from $210 and keeps an Outperform rating on the shares. The firm thinks L3Harris CEO Chris Kubasik hit all the right chords at this week’s analyst day, laying out at a plan to achieve $23B in revenue and generate $2.8B in free cash flow by 2026, the analyst tells investors in a research note. Raymond James says the muted stock response is more indicative of the run over the last month that was fueled by anticipation ahead of the analyst day and CFO and board changes.
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