L3Harris Technologies price target lowered to $255 from $264 at Truist

Truist analyst Michael Ciarmoli lowered the firm’s price target on L3Harris Technologies to $255 from $264 but keeps a Buy rating on the shares after it Q4 earnings beat and guidance. The management’s FY23 EPS outlook incorporated inflation, supply chain, interest and pension headwinds, but appears to be conservative while leaving the door open for modest top and bottom line upside to materialize, the analyst tells investors in a research note. The firm adds that while supply chain conditions are expected to remain steady from the second half of the year, part shortages have been reduced which should allow for a pickup in shipments.