In a report released today, Ronald Epstein from Bank of America Securities reiterated a Buy rating on L3Harris Technologies (LHX – Research Report), with a price target of $265.00.
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Ronald Epstein’s rating is based on L3Harris Technologies’ strategic initiatives and financial performance. The company, following its merger between L3 Tech and Harris, has become more streamlined and focused, enhancing its ability to meet customer needs effectively. Despite market uncertainties and risks from the new administration, L3Harris has demonstrated impressive cost-saving achievements through its LHX Next initiative, surpassing its gross cost savings target and setting ambitious goals to achieve further savings by 2025.
Moreover, L3Harris’ partnership with Palantir highlights its adaptability and strategic focus on leveraging core and software capabilities to address evolving customer demands. The company’s proactive engagement with the Department of Government (DOGE) further positions it to swiftly adapt to policy changes, underscoring its readiness to seize new opportunities. Collectively, these factors contribute to Epstein’s Buy rating for the stock, reflecting confidence in L3Harris’ potential for growth and value creation.
Epstein covers the Industrials sector, focusing on stocks such as Boeing, Embraer SA, and Crane Company. According to TipRanks, Epstein has an average return of 15.0% and a 62.05% success rate on recommended stocks.
In another report released on January 31, Wells Fargo also maintained a Buy rating on the stock with a $300.00 price target.