HALISTER1: Harris Cut; Cowen Sees Potential ’Oil-Related’ Delay on Orders

Harris Cut; Cowen Sees Potential ’Oil-Related’ Delay on Orders

(Bloomberg) -- HRS faces “potential oil-related delay in lucrative Mideast radio orders,” Cowen analyst Cai von Rumohr writes in note; downgrades to market perform from outperform, lowers PT to $90 from $102.
  • Harris, L-3, Oshkosh and FLIR all take “cautious” attitude on Mideast defense sales due to low oil prices
  • Lower oil not “major” risk for “higher priority” foreign arms sales; maintains outperform on General Dynamics, Raytheon, Rockwell Collins
  • HRS 8 buys, 1 hold; avg PT $95: Bloomberg data
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
HRS US (Harris Corp)
COL US (Rockwell Collins Inc)

People
Cai Von Rumohr (Cowen & Co LLC)

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