L3Harris targets 8% revenue growth and 15% cash flow CAGR through 2028 with a delayed Missile Solutions IPO.

L3Harris Technologies aims for an 8% organic revenue CAGR and over 15% cash flow CAGR through 2028, driven by strong defense demand. The company plans to spin off its Missile Solutions segment via an IPO, now delayed to mid-2027, which is expected to unlock additional shareholder value. Despite favorable sector trends and growth prospects, L3Harris shares trade below their five-year average valuation, presenting a potential buying opportunity. The stock is valued at $370 per share, implying a 30% upside, supported by strong contract momentum and the upcoming IPO catalyst.