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Investing.com - Bernstein SocGen Group raised its price target on L3Harris Technologies (NYSE:LHX) to $324.00 from $286.00 while maintaining an Outperform rating following the company’s strong second-quarter earnings report. According to InvestingPro data, the stock has shown impressive momentum with a 27.57% return over the past six months, while trading at a favorable PEG ratio of 0.68.
L3Harris reported non-GAAP adjusted earnings per share of $2.78 on July 24, exceeding the consensus estimate of $2.49 and Bernstein’s estimate of $2.42. Revenue reached $5.43 billion, surpassing the consensus expectation of $5.31 billion.
The company achieved a segment operating margin of 15.9%, with margins meeting or exceeding consensus estimates across all business segments. Revenue outperformed expectations in Integrated Mission Systems, Space & Airborne Systems, and Aerojet Rocketdyne, while Communication Systems revenue came in slightly below consensus.
Bernstein increased its EV/EBITDA multiple for L3Harris to 15.9X from 15.1X, citing a stronger growth outlook, particularly for the Aerojet Rocketdyne division, and better exposure to defense budget trends.
L3Harris remains Bernstein’s only Outperform-rated stock among U.S. defense companies, with the firm noting rising backlogs as performance trends ahead of the company’s 2026 goals.
In other recent news, L3Harris Technologies reported impressive earnings for the second quarter of 2025. The company’s earnings per share (EPS) reached $2.78, surpassing the analyst forecast of $2.48. Additionally, L3Harris achieved revenue of $5.4 billion, exceeding the expected $5.32 billion. The company also demonstrated strong performance with a book-to-bill ratio of 1.5x, indicating robust demand for its products and services. In light of these results, RBC Capital has raised its price target for L3Harris to $280, up from $265, while maintaining a Sector Perform rating. These recent developments reflect positively on the company’s financial health and market position.
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