L3Harris Gets $255 Price Target From JPMorgan After Golden Dome Recognition

On May 21, JPMorgan reaffirmed its Overweight rating and $255 price target for L3Harris Technologies Inc. (NYSE:LHX), following a government briefing that noted the defense contractor’s participation in a major defense program known as Golden Dome.

The Golden Dome, which covers a range of defense-related systems, is poised to allocate a substantial amount of funding to several contractors. Major industry participants, such as Lockheed Martin, are anticipated to make significant contributions to the program’s development, despite L3Harris having already established a role in certain aspects of it. The program, which President Trump initially ordered in January, aims to develop a network of potentially hundreds of satellites to track, detect, and intercept incoming missiles.

At the program briefing, which was attended by Senator Jim Banks of Indiana, L3Harris Technologies Inc. (NYSE:LHX) received recognition for its contributions, particularly through its space systems facility in Fort Wayne, Indiana. The company has invested $150 million to build out the facility, which has better positioned it as a major player in national security manufacturing and increased its ability to secure contracts linked to crucial defense programs.

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