1749 ET - L3Harris could be well positioned in a higher defense spending environment given its exposure to faster-growing parts of the budget, Goldman Sachs analysts say in a research note as they pivot less cautious on the defense sector. The defense contractor doesn't hold any one major platform program that would have risk of spending reduction or margin challenge, the analysts say. Overall, L3Harris's wide margin performance has been better than peers in recent quarters, and it trades at a valuation discount to the average of the large-cap prime contractors, the analysts add. Goldman Sachs raises its recommendation on the L3Harris stock to buy from sell. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
April 11, 2025 17:49 ET (21:49 GMT)
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