Is L3Harris Technologies (LHX) Undervalued Following Its $4.7b PAC 3 MSE Contract Win?

L3Harris Technologies (LHX) just secured a US$4.7b undefinitized contract from Lockheed Martin to supply propulsion systems for PAC-3 MSE interceptors over seven years, extending an already deep missile partnership. L3Harris Technologies’ latest contract win lands after a tough stretch for the ticker, with the 30-day share price return down 9.93% and the 90-day move down 14.95%. Even though the 3-year total shareholder return of 52.08% still points to a much stronger longer-run outcome, the...