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On Thursday, Bernstein upgraded L3Harris Technologies stock, listed on the New York Stock Exchange under the ticker (NYSE:LHX), assigning it an ’Outperform’ rating. The research firm set a new price target for the company’s shares at $273.00. The aerospace and defense company, with a market capitalization of $45.4 billion, has shown strong momentum with a 16.9% gain year-to-date.
The decision by Bernstein to adjust its stance on L3Harris Technologies comes as the company continues to navigate the complex defense sector landscape. The new ’Outperform’ rating suggests that analysts at Bernstein anticipate the company’s stock to perform better than the market average or its sector in the near future. According to InvestingPro data, the stock is currently trading at a P/E ratio of 28.7, with analysts projecting strong earnings growth for the upcoming year.
L3Harris Technologies, known for its advanced defense technology and communications solutions, has been a significant player in the defense industry. The price target of $273.00 indicates the level at which Bernstein believes the stock will move to in the medium term, reflecting their confidence in the company’s potential for growth. InvestingPro analysis reveals the company has maintained dividend payments for 55 consecutive years, with 23 years of consecutive dividend increases, demonstrating strong financial stability.
The upgrade to an ’Outperform’ rating is a positive development for L3Harris Technologies and can often lead to increased investor interest in the stock. It is a signal that analysts see more upside in the stock’s value compared to its current trading price.
Investors and market watchers often look to rating changes by research firms like Bernstein as indicators of a stock’s future performance. While these ratings provide insights, they are based on the firm’s analysis and are not guarantees of future stock movement. Shareholders and potential investors in L3Harris Technologies may consider this new rating and price target as part of their own research when making investment decisions.
In other recent news, L3Harris Technologies reported its financial results for the first quarter of 2025, with earnings per share (EPS) of $2.41, surpassing the forecast of $2.32. However, the company’s revenue fell short of expectations, coming in at $5.13 billion compared to the projected $5.22 billion. Despite this revenue miss, L3Harris returned nearly $800 million to shareholders through share repurchases and dividends. The company also secured significant international contracts, including a $214 million order from Germany to enhance its armed forces’ communication systems. Additionally, L3Harris expanded its Fort Wayne facility, supporting its involvement in major defense initiatives like the Space Development Agency’s satellite programs. Analyst firms have shown confidence in the company, with Bernstein raising its stock price target to $273, maintaining an ’Outperform’ rating. Meanwhile, JPMorgan reiterated its Overweight rating with a $255 target, highlighting L3Harris’s role in the Golden Dome defense program. These developments reflect the company’s strategic focus on defense technologies and international contracts.
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