Bernstein Reiterates Outperform Rating on L3Harris Technologies (LHX) After a 'Solid 2024'

Bernstein SocGen Group analyst Douglas Harned reiterated an Outperform rating and $267.00 price target on L3Harris Technologies (NYSE: LHX).

The analyst commented: "Solid 2024 - Growth expectations shift more to 2026; IMS improving, slower SAS growth; L3Harris reported Q4’24 results on January 30th with revenues and EPS each slightly above consensus, but slightly below our estimates. IMS revenues and margins were above our estimates, while Space & Airborne Systems revenues and margins were below. The SAS underperformance was attributed primarily to transition from development to production on F-35 TR-3. Communications Systems margins were also below our expectations, which was attributed to US/export mix.

While guidance for 2025 was softer than our expectations, management slightly raised its outlook for 2026, as it expects more savings from LHX Next and forecasts segment margins to be in the “low 16%” range (a slight increase). 2026 revenue and cash flow guidance is unchanged. Book-to-bill for Q4 was 104%, which leads to a 114% TTM book-to-bill, reinforcing our positive outlook on revenue growth."

For an analyst ratings summary and ratings history on L3Harris Technologies click here. For more ratings news on L3Harris Technologies click here.

Shares of L3Harris Technologies closed at $212.78 yesterday.

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