L3Harris Technologies On Path To Financial Normalization, Analyst Upgrades Stock
Portfolio Pulse from Lekha Gupta
Raymond James analyst Brian Gesuale upgraded L3Harris Technologies Inc (NYSE:LHX) to Outperform from Market Perform and set a price target of $210. The analyst is bullish due to the company's improved fundamentals and expects it to normalize in the coming quarters. He also expects non-core asset sales and FCF of $2.5 billion in FY24 and FY25 to reduce leverage. Last week, L3Harris reported Q3 FY23 adjusted EPS of $3.19, beating the consensus of $3.03, and revenue of $4.915 billion, surpassing the street view of $4.76 billion.

October 30, 2023 | 6:19 pm
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L3Harris Technologies has been upgraded to Outperform from Market Perform by Raymond James, with a price target of $210. The company's improved fundamentals and expected financial normalization are the key drivers for this upgrade.
The upgrade by Raymond James is based on the company's improved fundamentals and expected financial normalization. This positive sentiment from a reputable analyst could drive investor interest and potentially increase the stock price in the short term.
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