Analyst Gautam Khanna from TD Cowen maintained a Buy rating on L3Harris Technologies and increased the price target to $290.00 from $280.00.
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Gautam Khanna has given his Buy rating due to a combination of factors that highlight the strong performance and future prospects of L3Harris Technologies. The company reported a notable earnings per share (EPS) beat in the second quarter, which was partly driven by one-time asset sales. This positive financial performance was complemented by an upward revision in guidance for 2025 and 2026, indicating confidence in sustained growth.
Moreover, L3Harris Technologies demonstrated strong booking and bidding pipeline momentum, with a book-to-bill ratio of 1.5x, led by the AJRD segment’s 2x performance. The company also expects higher cost savings from its NeXT initiative, and management has expressed a disciplined approach to bidding on new opportunities. Despite some concerns about the Department of Defense’s budget request, the company’s backlog and foreign demand remain robust, further supporting the optimistic outlook.
According to TipRanks, Khanna is a top 25 analyst with an average return of 17.8% and a 73.60% success rate. Khanna covers the Industrials sector, focusing on stocks such as Boeing, General Dynamics, and L3Harris Technologies.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $302.00 price target.