L3Harris Analyst Sees 'Turning Point' For Growth, Attractive Valuation Driving Outperformance
L3Harris Analyst Sees 'Turning Point' For Growth, Attractive Valuation Driving Outperformance
The analyst expects company sales to grow by 3% to 5% in 2025 and 5% in 2026, driven by strong performance in its core businesses, particularly in its Communication Systems, Space and Airborne Systems and Aerojet Rocketdyne divisions.L3Harris Technologies Inc. (NYSE:LHX) received a notable upgrade on Thursday from Wolfe Research analyst Myles Walton, who moved the stock from Peer Perform to Outperform and set a new price target of $300. The target suggests a potential upside of nearly 24%.
l3harris technologies公司（纽交所：LHX）周四收到了Wolfe Research分析师Myles Walton的重要升级，他将该股票从同业表现调升至表现优异，并设定了新的目标价格为300美元。该目标价格暗示着将近24%的潜在上涨。
What To Know: The Wolfe Research analyst cited improving sales growth, margin expansion and free cash flow per share as key drivers for the optimism around L3Harris.
了解详情：Wolfe Research分析师指出，销售增长、利润率扩张和每股自由现金流是围绕l3harris公司的乐观情绪的关键推动因素。
After lagging behind competitors over the past year, the aerospace and defense company is positioned for an upward shift in sales growth, with the potential to converge with industry peers Lockheed Martin Inc. (NYSE:LMT) and Northrop Grumman Inc. (NYSE:NOC) by 2025 or 2026, Walton said, calling it a "turning point" for L3Harris.
在过去一年落后于竞争对手之后，航空航天与国防公司定位为销售增长上升，有望在2025或2026年与行业同行洛克希德马丁（纽交所：LMT）和诺斯罗普格鲁曼（纽交所：NOC）趋同，沃尔顿称之为l3harris的“转折点”。
The analyst expects company sales to grow by 3% to 5% in 2025 and 5% in 2026, driven by strong performance in its core businesses, particularly in its Communication Systems, Space and Airborne Systems and Aerojet Rocketdyne divisions.
分析师预计公司销售额在2025年将增长3%至5%，2026年增长5%，这是由其核心业务实现强劲表现驱动的，特别是在其通信系统、空间与机载系统以及Rocketdyne航空动力部门。
Walton also noted that the company's margins are already 400 basis points higher than its peers. The analyst further pointed out that management raised its margin target to over 16% by 2026, citing ongoing cost-cutting initiatives, including a 5% workforce reduction and facility consolidation. Walton expects this margin growth to lead to robust free cash flow per share expansion in the mid-teens range in 2026.
沃顿还指出，该公司的利润率已经比同行高出400个基点。分析师进一步指出，管理层将利润率目标提高到2026年超过16%，并称这是持续的成本削减举措的一部分，包括5%的员工减少和设施合并。沃尔顿预计这种利润率增长将在2026年使每股自由现金流扩张至中等区间。
As L3Harris' performance continues to improve, the valuation gap with larger defense companies is likely to narrow, the analyst said. His price target is based on a 15% valuation discount relative to the multiples of Lockheed Martin and Northrop Grumman. Lockheed has a price-to-earnings multiple of approximately 21 and Northrop's multiple is around 19.5. L3Harris is trading around 17 times forward earnings, according to data from Benzinga Pro.
随着l3harris的业绩持续改善，与更大的国防公司之间的估值差距可能会缩小，分析师表示。他的目标价格基于相对于洛克希德马丁和诺斯罗普格鲁曼的倍数的15%估值折扣。洛克希德的市盈率约为21，诺斯罗普的市盈率约为19.5。根据Benzinga Pro的数据，l3harris的未来盈利约为17倍。
Despite the positive outlook, Walton acknowledged that there are risks. The company has trailed peers in growth and continues to deal with some uncertainties related to Aerojet Rocketdyne. However, the analyst believes these concerns are beginning to ease and L3Harris is positioned to address investor concerns moving forward through a renewed focus on growth and margin expansion.
尽管展望乐观，沃尔顿承认存在风险。该公司在增长方面落后于同行，并继续处理与Rocketdyne航空动力相关的一些不确定性。然而，分析师认为这些担忧开始减轻，l3harris定位为通过重新关注增长和利润率扩张来解决投资者关切。
LHX Price Action: L3Harris Technologies shares were down by 0.15% at $241.85 at the time of writing, according to Benzinga Pro.
l3harris technologies价格走势：根据Benzinga Pro的数据，在撰写时，l3harris technologies股价下跌0.15%，报241.85美元。
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