Bernstein Maintains Outperform on L3Harris (LHX) as Revenue Tops Estimates

Bernstein analyst Douglas Harned reiterated an Outperform rating on L3Harris Technologies (LHX) while lowering the price target to $405 from $435. The company exceeded first-quarter revenue and EPS estimates, reporting $5.7 billion in revenue and $2.72 EPS. L3Harris also announced strategic initiatives including selling a 60% stake in its Space Propulsion & Power Systems, a $1 billion investment from the Department of War, and confidentially filing to take its Missile Solutions segment public.
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