JPMorgan and Citigroup Lift L3Harris Price Targets to $395 and $418
JPMorgan raised its L3Harris price target to $395 from $340 and Citigroup lifted its target to $418 from $389. Q4 non-GAAP EPS climbed 10% year-over-year to $2.86, beating estimates by $0.10, as backlog topped $38 billion and 2026 revenue is forecast at $23 billion to $23.5 billion.
1. Analysts Raise Price Targets
On February 5, JPMorgan increased its L3Harris price target to $395 from $340 and maintained an Overweight rating, while Citigroup lifted its target to $418 from $389 with a Buy rating. Earlier in the week, Morgan Stanley raised its target to $390 from $367 following the company’s Q4 performance.
2. Q4 Financial Results
In the fourth quarter, L3Harris posted non-GAAP diluted EPS of $2.86, up 10% year-over-year and beating estimates by $0.10, although revenue fell short due to a prolonged government shutdown.
3. Backlog and 2026 Outlook
The company ended the quarter with a record backlog exceeding $38 billion and a book-to-bill ratio of 1.3, and it forecasts 2026 revenue between $23 billion and $23.5 billion, noting that the anticipated closing of its 60% space propulsion business divestiture in H2 could pressure future sales.