L3Harris Technologies, Inc. (LHX) Positioned to Capitalize on Expanding Defense and Missile Spending

L3Harris Technologies Inc. (NYSE:LHX) is one of the defense & aerospace stocks benefiting from rising geopolitical spending. On January 14, UBS reiterated a Neutral rating on L3Harris Technologies Inc. (NYSE:LHX) and a $323 price target.

The research firm has echoed the company’s announcement of a $1 billion Department of Defense investment in its missile solution business. The investment will allow the company to ramp up solid rocket motor production amid a planned initial public offering. Likewise, the research firm expects the company to benefit as capital expenditure in the industry increases.

Similarly, analysts at Bernstein have reiterated an Outperform rating and a $398 price target on the defense contractor. The positive stance comes from the company reiterating its plans to retain a majority stake in the Missile Solutions business even as it goes public. The analyst also expects the IPO drive at the government stake to add investment in the solid rocket motor business.

L3Harris Technologies, Inc. (NYSE:LHX) is a global aerospace and defense technology company that provides advanced solutions for military, government, and commercial customers, focusing on connecting space, air, land, sea, and cyber domains with technology for national security, defense, and exploration.

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Disclosure: None. This article is originally published at Insider Monkey.