L3Harris Technologies, Inc. (NYSE:LHX) is among the 9 Best Drone Stocks to Buy According to Wall Street Analysts.
As of the close of business on May 8, the stock is a Strong Buy with an average share-price upside potential of 30%
This is despite recent price target reductions following first-quarter financial results. On May 4, Bernstein analyst Douglas Harned slashed the stock’s price target to $405 from $435, citing budget uncertainty for 2027. The firm said it was waiting for contracts for missile growth plans to be signed.
However, Bernstein reiterated its Outperform rating on L3Harris Technologies, Inc. (NYSE:LHX) after beating revenue and earnings estimates for Q1. Earlier on May 1, UBS also lowered its price target on the stock to $330 from $362, while maintaining a Neutral rating. The defense contractor reported a total revenue of $5.74 billion, against forecasts of $5.42 billion.