L3Harris Technologies price target lowered to $240 from $260 at Cowen

Cowen analyst Gautam Khanna lowered the firm’s price target on L3Harris Technologies to $240 from $260 and keeps an Outperform rating on the shares. The analyst cut his target given new defense risks post the Speaker’s election, the pruning of estimates that management continues to do, and the company’s fairly extreme pivot to M&A, which is a thesis change from the integration story of the past few years.