- L3Harris Technologies Inc LHX has been awarded a $393 million contract by the U.S. Navy to install increments II and III of the Undersea Warfare Training Range (USWTR).
- The award follows nearly ten years of execution by L3Harris on Increment I and will replace and upgrade the remaining underwater training range sites.
- Under Increments II and III, L3Harris will upgrade and replace the previously installed systems at the U.S. Navy's three other range locations near Hawaii, the Bahamas, and Southern California.
- Susquehanna maintained a Positive rating on L3Harris and raised the price target to $270, implying a 17% upside.
- Price Action: LHX shares traded lower by 0.95% at $228.84 on the last check Wednesday.
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