RBC Capital raised the firm’s price target on L3Harris Technologies (LHX) to $365 from $360 and keeps a Sector Perform rating on the shares. The company reported Q4 organic growth of 6% with adjusted segment operating margins of 15.8%, but the results were overshadowed by L3Harris’s re-segmentation and plans to spin its Missile Solutions business, the analyst tells investors in a research note. The company also does see capex spend increasing to about $600M next year, RBC added.
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