L3Harris Gains as Sen. Banks Says To Work on ‘Golden Dome’ (1)

(Adds share and peer moves, analyst commentary.)

L3Harris Technologies shares are up 4.3% premarket after Indiana Senator Jim Banks said in the Oval Office that the defense technology company will work on the “Golden Dome” missile-defense shield.

• “The link here is LHX’s space manufacturing facility in Fort Wayne, IN, where the company recently wrapped up a $125m expansion,” JPMorgan analyst Seth Seifman wrote in a note to clients
  • Notes its participation in satellite missile tracking programs
  • Says the company could participate in the project through multiple avenues, also including “rocket motors for interceptors”
• Watch other defense contractors, with RTX +1.8%, ...