L3harris Technologies Secures $393M Undersea Training Range Contract, Gets Price Target Bump

August 4, 2021 11:18 AM | 1 min read | Make a Comment

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.