Barclays analyst David E. Strauss maintains $L3Harris Technologies (LHX.US)$ with a buy rating, and adjusts the target price from $265 to $290.
According to TipRanks data, the analyst has a success rate of 60.1% and a total average return of 7.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $L3Harris Technologies (LHX.US)$'s main analysts recently are as follows:
L3Harris Technologies has lifted its 2024 EPS outlook midpoint after surpassing Q3 expectations, which is noted as a positive development. Moreover, the accelerated cost savings resulting from the company's LHX NeXt initiative are viewed as 'encouraging'.
L3Harris Technologies has shown robust Q3 results, indicative of a positive turn in Communications Systems margins and solid revenue performance in both the CS and Integrated Mission Systems segments. The company has demonstrated commendable execution in capitalizing on cost-saving opportunities; however, it is assessed that the immediate potential has already been factored into the stock's current valuation.
L3Harris Technologies seems poised to surpass its 2026 objectives ahead of schedule due to earlier cost savings than anticipated. With its balance sheet maintaining optimal leverage, the company is in a strong position to allocate substantial capital.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
