L3Harris Technologies (LHX) PT Lowered to $300 at Jefferies

Jefferies analyst Sheila Kahyaoglu lowered the price target on L3Harris Technologies (NYSE: LHX) to $300.00 (from $320.00) while maintaining a Buy rating.

The analyst commented, "LHX's Q1 pointed to NT headwinds around the supply chain and delayed passage of the budget, w/ revs down 5% organically (vs. peer avg -6%). Results were largely inline, with better than expected margins driving a bottom line beat. Guidance was unchanged, pointing to an acceleration to 10% rev growth in H2 vs. -5% in H1. Risk-reward is favorable with budget driven upside and shares trading at a 6.3% 2023 FCF yield, a 15% dsct. to peers."

You May Also Be Interested In

• QuantumScape (QS) PT Lowered to $6 at Truist Securities
• Prysmian SpA (PRY:IM) (PRYMY) PT Raised to EUR53 at HSBC
• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold