L3Harris Technologies (LHX) Earnings Preview: What to Expect and Analyst Opinions

L3Harris Technologies (LHX), a major player in the defense and aerospace industries, is gearing up to release its third-quarter earnings after the market closes on Thursday, October 24th. Investors are eager to see how the company has fared in the recent quarter, following its strategic partnership with Palantir, a move designed to propel advanced technology development and accelerate digital transformation.

Analysts are predicting a solid performance for L3Harris, with forecasts indicating earnings per share of $3.26, a slight increase from $3.19 in the same period last year. Revenue for the quarter is projected to reach $5.28 billion, suggesting continued strong growth.

In the run-up to the earnings release, a number of analysts have weighed in on L3Harris’s prospects, offering insights that can help investors navigate the market.

Analyst Ratings and Price Targets:

*

Truist Securities

analyst Michael Ciarmoli maintained a

Buy

rating on L3Harris, raising the price target from $250 to $293 on October 18th. This analyst has an accuracy rate of 80%, suggesting a strong track record.

*

Citigroup

analyst Jonathan Raviv also maintained a

Buy

rating, boosting the price target from $268 to $291 on October 10th. This analyst boasts an impressive accuracy rate of 84%.

*

Wolfe Research

analyst Myles Walton upgraded the stock from

Peer Perform

to

Outperform

, setting a price target of $300 on October 10th. This analyst carries an accuracy rate of 83%.

*

Deutsche Bank

analyst Scott Deuschle maintained a

Hold

rating, but lowered the price target from $252 to $250 on October 3rd. This analyst has an accuracy rate of 76%.

*

RBC Capital

analyst Ken Herbert downgraded the stock from

Outperform

to

Sector Perform

, lowering the price target from $250 to $240 on August 14th. This analyst has an accuracy rate of 73%.

The diverse range of analyst ratings underscores the varying perspectives on L3Harris’s future trajectory. While some analysts maintain optimistic views and see potential for significant upside, others are more cautious, highlighting potential challenges or market volatility.

Investors looking to make informed decisions about L3Harris stock should carefully consider these analyst ratings and price targets, alongside the company’s recent performance and strategic initiatives. The earnings release will likely provide further clarity on L3Harris’s outlook and its ability to capitalize on the growing demand for defense and aerospace technology.