RBC Capital analyst Ken Herbert raised the firm’s price target on L3Harris Technologies to $250 from $245 and keeps an Outperform rating on the shares after its Q1 earnings beat and raised guidance. The company’s outlook for individual segment margins is improving, and the confidence in the cost actions is increasing, the analyst tells investors in a research note. L3Harris’s deleveraging story is also track, and RBC sees the upside to both revenues and margins being on the rise, the firm added.
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Read More on LHX:
- L3Harris raises FY24 revenue view to $20.8B-$21.3B from $20.7B-$21.3B
- L3Harris raises FY24 adjusted EPS view to $12.70-$13.05 from $12.40-$12.80
- L3Harris Technologies reports Q1 adjusted EPS $3.06, consensus $2.90
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- L3Harris Technologies to cut 5% of workforce to save costs, Reuters reports