CL King Reiterates Strong Buy On Harris Corporation (HRS), Raises Target To $56

Lawrence Harris, analyst at CL King & Associates, reiterated a strong buy on Harris Corporation. (NYSE: HRS). Harris Corporation is the world’s largest supplier of ground based tactical radios for the military.

Harris also is a major supplier of transmitters and video infrastructure equipment for the broadcasting industry. The recent announcement of an increase in American troops serving at Afghanistan is expected to impact Harris Corporation positively. The radio business accounts for nearly 50% of Harris' operating margins. Past history adds credibility to the analysis.

Harris revenues from the tactical radio business grew nearly 20% in 2007 during a similar surge of American troops in Iraq. Harris also has an added advantage – the US Marine Corps have been standardized on Harris radios. Harris' annual revenues is close to $5.1 Billion.