Jefferies resumes coverage on L3Harris with "hold" rating, shares fall

L3Harris Technologies

26/08/2026 13:09

** Shares of U.S. defense contractor L3Harris LHX.N  fall more than 1% to $259 as Jefferies reinstates coverage with "hold"; 
** New PT of $315 implies a 20% upside to the stock's last close
**Brokerage cites uncertainty with leadership change & an unclear path for the Missile Solutions IPO
** Co recently ousted CEO Kubasik over conduct breach and appointed Sam Mehta as the new chief executive
** Jefferies paused coverage on the defense contractor in November 2025 when the stock was rated "buy" with a price target of $365
** Brokerage says overhang exists on an IPO decision, with the process likely shelved until mid-'27 under new leadership
** IPO decision also depends on co's ability to definitize $20 billion multi year draft NDAs to date, which require dual-sourced Solid Rocket Motors.
**13 of 19 brokerages rate the stock "buy", 6 "hold" - data compiled by LSEG; median PT - $377
** Up to last close, stock has fallen 10.70% YTD

 (Reporting by Miraanta Lowrance)