L3Harris Technologies Bags U.S. Army Order for 1,000 Compact Team Radios
Global aerospace and defense technology company L3Harris Technologies (LHX) has received an order from the U.S. Army for 1,000 new Falcon IV AN/PRC-171 Compact Team Radios to boost tactical communications.
The company offers advanced commercial and defense technologies across cyber, space, sea, land and air domains. LHX’s shares closed 0.9% up on Monday at $235.37.
The President of Tactical Communications at L3Harris, Bryant Henson, said, “The delivery of these single-channel radios furthers L3Harris’ support of the U.S. Army’s new Integrated Tactical Network by enabling all tactical operators to share situational awareness information across the entire network.”
“These radios will field alongside our HMS Manpack and Leader Radios at the squad level—extending the network and warfighter effectiveness to all soldiers,” Henson added. (See Analysts’ Top Stocks on TipRanks)
The radio provides over 20 hours of voice and data communications on a single battery and can interface with other solutions of the company, including the Enhanced Night Vision—Binocular (ENVG-B).
Its accessories can be interchanged with the other radios of the L3Harris Falcon family, and the radio is supported with in-field upgrades to narrowband and wideband resilient waveforms.
Last week, Jefferies (JEF) analyst Sheila Kahyaoglu maintained a Buy rating on the stock with a price target of $260 (9.5% upside potential). The analyst expects the company to report earnings per share (EPS) of $2.03 for the fourth quarter.
Overall, the stock has a Moderate Buy consensus rating based on 9 Buys, 4 Holds and 1 Sell. The average L3Harris Technologies price target of $252.38 implies 603% upside potential. Shares have gained 34.5% over the past year.
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