L3Harris (LHX) Boosted by Defense Tech Innovation and Increased Orders

L3Harris Technologies, Inc. (NYSE:LHX) is one of the best military tech stocks to buy now. On July 29, Barclays raised its price target on L3Harris Technologies, Inc. (NYSE:LHX) from $255 to $305, reiterating an Overweight rating after updating its financial model following the company’s latest earnings report. With shares currently trading at $274.14, the new target suggests a potential upside of roughly 11.3%.

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The firm’s updated model reflects improved margins and stronger-than-expected bookings reported in the second quarter. While the earnings beat didn’t come as a major surprise, Barclays noted that L3Harris is showing better operational discipline and cash flow generation than previously forecasted.

L3Harris has recently benefited from a rebound in U.S. defense procurement and steady international demand, particularly for its communications systems and space technologies. The company’s integration of Aerojet Rocketdyne is also seen as a longer-term positive, potentially boosting its positioning in propulsion and missile systems.

Barclays said the revised target takes into account better visibility into revenue growth over the next 12 to 18 months, along with the company’s focus on simplifying its business segments and improving execution. Investors are keeping a close eye on defense names as global security spending continues to rise, and L3Harris remains one of the sector’s more technology-driven players.

L3Harris builds secure communications, space sensors, and electronic warfare systems for U.S. and allied defense programs.

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Disclosure: None.