Wall Street’s Outlook on L3Harris Technologies Stock in 2024

L3Harris Technologies (LHX) has continued to outpace the broader market, with analysts largely maintaining buy‑side ratings despite recent price‑target adjustments. The consensus among the 20‑plus analysts covering the stock leans toward a “Strong Buy,” indicating a generally bullish stance on the aerospace and defense maker [2].

Key takeaways

• Consensus rating is “Strong Buy” from 21 analysts, with most rating “Strong Buy” and a few “Hold” positions [3].
• Mean price target sits around $299‑$300, implying an 8% premium to the current share price [3].
• Recent earnings beat expectations; Q2 adjusted EPS of $2.78 topped forecasts of $2.48 and revenue of $5.4 billion exceeded estimates of $5.3 billion [3].
• Analysts project EPS decline for the current fiscal year, forecasting $10.40‑$10.60 versus prior year expectations [3].
• Prior month’s data (Feb 2024) showed a “Moderate Buy” consensus with a mean target of $375.50, reflecting a more cautious outlook [2].

Analyst Ratings and Price Targets

The latest Barchart analysis shows that 21 analysts covering LHX have a consensus rating of “Strong Buy,” derived from 15 “Strong Buy” recommendations and six “Hold” ratings [3]. This consensus has remained stable over the past three months, suggesting sustained confidence in the company’s fundamentals. Price targets vary modestly: Ronald Epstein of Bank of America maintained a “Buy” rating with a $315 target, indicating a 13.8% upside, while the mean target across analysts is $299, an 8% premium to the current price [3]. The street‑high target of $325 points to a potential 17.4% upside.

In contrast, a February 2024 Barchart report noted a slightly less aggressive stance, with a “Moderate Buy” consensus based on 14 “Strong Buy” and six “Hold” ratings. The mean price target then was $375.50, an 8.3% premium, and the highest target of $443 suggested a 27.8% upside [2]. This shift reflects a modest softening of optimism as analysts recalibrated expectations.

Recent Earnings Performance

L3Harris reported solid quarterly results that reinforced its bullish perception. On July 24, the company posted adjusted EPS of $2.78, beating Wall Street’s $2.48 estimate, and revenue of $5.4 billion, surpassing the $5.3 billion forecast [3]. The firm also announced full‑year adjusted EPS guidance of $10.40‑$10.60 and revenue guidance of $21.8 billion. Despite the earnings beat, analysts anticipate a 19.9% decline in EPS for the current fiscal year, indicating that growth expectations are tempered by broader market or sector dynamics [3].

Earlier, on Jan. 29, LHX’s Q4 results showed adjusted EPS of $2.86 versus expectations of $2.76, though revenue of $5.6 billion fell short of the $5.8 billion forecast [2]. The company projected full‑year EPS of $11.30‑$11.50 and revenue of $23‑$23.5 billion, with analysts expecting EPS growth of 7.4% to $11.52 for fiscal 2026 [2]. These mixed signals illustrate that while earnings surprises have been positive, revenue shortfalls keep analysts cautious.