L3Harris Analyst Sees 'Turning Point' For Growth, Attractive Valuation Driving Outperformance
Portfolio Pulse from Vaishali Prayag
L3Harris Technologies (NYSE:LHX) received an upgrade from Wolfe Research, with a new price target of $300, indicating a potential 24% upside. The analyst cited improving sales growth, margin expansion, and free cash flow as key drivers. L3Harris is expected to converge with industry peers Lockheed Martin (NYSE:LMT) and Northrop Grumman (NYSE:NOC) by 2025-2026.
October 10, 2024 | 6:49 pm
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POSITIVE IMPACT
L3Harris Technologies received an upgrade to 'Outperform' from Wolfe Research, with a new price target of $300, suggesting a 24% upside. The analyst highlights improving sales growth, margin expansion, and free cash flow as key factors.
The upgrade to 'Outperform' and a significant price target increase suggest strong positive sentiment from analysts. The focus on growth and margin expansion indicates potential for stock price appreciation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
L3Harris is expected to converge with Lockheed Martin in terms of sales growth by 2025-2026, as per Wolfe Research. This comparison highlights L3Harris' potential improvement relative to its peers.
While L3Harris' potential growth is compared to Lockheed Martin, the direct impact on LMT is limited. The news highlights L3Harris' improvement rather than a change in Lockheed Martin's outlook.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
NEUTRAL IMPACT
L3Harris is expected to converge with Northrop Grumman in sales growth by 2025-2026, according to Wolfe Research. This positions L3Harris as a growing competitor in the defense sector.
The news positions L3Harris as a potential competitor to Northrop Grumman, but does not directly impact NOC's current outlook. The focus is on L3Harris' growth trajectory.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30