L3Harris Technologies faced various price target adjustments from financial institutions, including lowering to $255.00 by
JPMorgan Chase & Co., and $237.00 by
UBS Group.
Truist Financial and
Susquehanna also issued pessimistic forecasts for the company's stock price. Despite this, the company posted strong Q4 2024 earnings results backed by significant defense contracts leading to massive revenue growth.
Royal Bank of Canada reaffirmed its 'Sector Perform' rating for the firm, and the balance sheet remains robust. However, full-year earnings guidance missed consensus, causing a turn to the lower side. Major players in the asset management such as
R Squared Ltd,
Pacer Advisors Inc. and
Robeco Institutional Asset Management B.V. increased their stakes in L3Harris. The company won a $300M U.S. Army Radio contract indicating continuous trust in its advanced military communication solutions. Despite forecasting a gloomy FY25, L3Harris was given recognition for its strong 2024 financial performance. Some insider sell-offs were reported, potentially signaling caution among top brass. The company is considered to be a solid performer in the defense segment and an attractive choice during market pullbacks.
L3harris Technologies LHX News Analytics from Tue, 27 Aug 2024 07:00:00 GMT to Sat, 01 Feb 2025 19:38:22 GMT -
Rating 4
- Innovation -2
- Information 7
- Rumor 6
