L3Harris Analyst Sees 'Turning Point' For Growth, Attractive Valuation Driving Outperformance
L3Harris Analyst Sees 'Turning Point' For Growth, Attractive Valuation Driving Outperformance
The analyst expects company sales to grow by 3% to 5% in 2025 and 5% in 2026, driven by strong performance in its core businesses, particularly in its Communication Systems, Space and Airborne Systems and Aerojet Rocketdyne divisions.L3Harris Technologies Inc. (NYSE:LHX) received a notable upgrade on Thursday from Wolfe Research analyst Myles Walton, who moved the stock from Peer Perform to Outperform and set a new price target of $300. The target suggests a potential upside of nearly 24%.
l3harris technologies公司（紐交所：LHX）週四收到Wolfe Research分析師Myles Walton的重要升級，他將該股從同行表現轉爲表現優異，並設定了新的目標價格爲300美元。該目標暗示了將近24%的潛在上漲。
What To Know: The Wolfe Research analyst cited improving sales growth, margin expansion and free cash flow per share as key drivers for the optimism around L3Harris.
要點：Wolfe Research分析師提到，銷售增長、利潤率擴張和每股自由現金流是支持對l3harris表現樂觀的關鍵驅動因素。
After lagging behind competitors over the past year, the aerospace and defense company is positioned for an upward shift in sales growth, with the potential to converge with industry peers Lockheed Martin Inc. (NYSE:LMT) and Northrop Grumman Inc. (NYSE:NOC) by 2025 or 2026, Walton said, calling it a "turning point" for L3Harris.
在過去一年落後於競爭對手之後，這家航空航天與國防公司有望實現銷售增長的上升趨勢，有可能在2025年或2026年與行業同行洛克希德馬丁公司（紐交所：LMT）和諾斯羅普格魯曼公司（紐交所：NOC）趨同，沃爾頓表示，稱這是l3harris的"轉折點"。
The analyst expects company sales to grow by 3% to 5% in 2025 and 5% in 2026, driven by strong performance in its core businesses, particularly in its Communication Systems, Space and Airborne Systems and Aerojet Rocketdyne divisions.
分析師預計，公司銷售額將在2025年增長3%至5%，2026年增長5%，這得益於核心業務的強勁表現，尤其是其通信系統、太空與機載系統以及Aerojet Rocketdyne部門。
Walton also noted that the company's margins are already 400 basis points higher than its peers. The analyst further pointed out that management raised its margin target to over 16% by 2026, citing ongoing cost-cutting initiatives, including a 5% workforce reduction and facility consolidation. Walton expects this margin growth to lead to robust free cash flow per share expansion in the mid-teens range in 2026.
沃爾頓還指出，該公司的利潤率已經比同行高出400個點子。分析師進一步指出，管理層將其利潤率目標提高到2026年超過16%，並稱這是持續的成本削減舉措的結果，其中包括5%的員工減員和設施整合。沃爾頓預計這種利潤增長將導致2026年中期每股自由現金流擴張在中二位數區間。
As L3Harris' performance continues to improve, the valuation gap with larger defense companies is likely to narrow, the analyst said. His price target is based on a 15% valuation discount relative to the multiples of Lockheed Martin and Northrop Grumman. Lockheed has a price-to-earnings multiple of approximately 21 and Northrop's multiple is around 19.5. L3Harris is trading around 17 times forward earnings, according to data from Benzinga Pro.
正如l3harris的表現持續改善，該分析師表示，與更大的國防公司之間的估值差距可能會縮小。他的目標價格基於相對於洛克希德馬丁和諾斯羅普格魯曼的倍數的15%估值折扣。洛克希德的市盈率約爲21左右，諾斯羅普的市盈率約爲19.5左右。據Benzinga Pro的數據，l3harris的前瞻性市盈率約爲17倍。
Despite the positive outlook, Walton acknowledged that there are risks. The company has trailed peers in growth and continues to deal with some uncertainties related to Aerojet Rocketdyne. However, the analyst believes these concerns are beginning to ease and L3Harris is positioned to address investor concerns moving forward through a renewed focus on growth and margin expansion.
儘管前景樂觀，沃爾頓承認存在風險。該公司在增長方面落後於同行，並繼續應對與Aerojet Rocketdyne相關的一些不確定性。但分析師認爲這些擔憂開始減輕，並認爲l3harris通過重新聚焦於增長和利潤率擴張來解決投資者的擔憂。
LHX Price Action: L3Harris Technologies shares were down by 0.15% at $241.85 at the time of writing, according to Benzinga Pro.
l3harris technologies股價走勢：洛克希德馬丁技術股份在撰寫時下跌0.15%，報241.85美元，據Benzinga Pro報道。
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Image via Wikimedia Commons.
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譯文內容由第三人軟體翻譯。
