$L3Harris Technologies, Inc.(LHX)$
🚀🚀🚀 L3Harris Technologies (LHX): The Stock to Watch in the Defence Sector 🚀🚀🚀
Kia ora Tiger traders!
Today, we’re diving deep into L3Harris Technologies (LHX), a powerhouse in the defense sector that’s been steadily climbing the ranks. I’m particularly excited about this stock, and not just because of its current performance, but because of its potential for the future.
🔍 Overview & Recent Performance
• Current Price: $233.55 (+0.69%)
• High: $233.98
• Low: $230.38
• Volume: 84.33K Shares
LHX is showing strong momentum, with a steady climb from its opening at $233.50. The stock is flirting with resistance at $233.98, but the real story is the bullish channel we’re witnessing on the charts.
📈 Chart Analysis: A Bullish Trajectory
Take a look at the chart I’ve provided~consider it gospel! LHX has been riding an ascending channel like a pro surfer catching the perfect wave. The pattern suggests we’re not just in for a short-term ride but possibly a longer-term bullish run.
• Key Support Levels: $230.38
• Resistance Levels: $233.98 (short-term), $240+ (mid-term)
The stock has already broken through several key resistance levels and is currently testing new highs. If it continues this trajectory, we could be seeing LHX climbing towards the $250-$260 range in the near future.
🔍 Latest News & Analyst Insights
L3Harris Technologies recently reported strong Q2 2024 results, with a diluted EPS of $3.24, surpassing Wall Street expectations. This performance has led to an increase in their 2024 guidance, with revenue now expected between $21.0 billion and $21.3 billion, and EPS between $12.85 and $13.15.
Jim Cramer from CNBC’s “Mad Money” has praised L3Harris, calling it a “terrific” company, although RBC Capital recently downgraded it from Outperform to Sector Perform, with a revised price target of $240. Despite this, Wells Fargo maintains a “Buy” rating, setting a price target of $260, implying a 12.1% upside.
💼 Competitor Comparison: LHX Leads the Pack
Let’s compare LHX to its major competitors in the defense sector:
1. Lockheed Martin (LMT):
• 🟢 Buy: 7
• 🟡 Hold: 4
• 🔴 Sell: 2
• Current Price: $454.12
2. Northrop Grumman (NOC):
• 🟢 Buy: 6
• 🟡 Hold: 5
• 🔴 Sell: 2
• Current Price: $429.98
3. General Dynamics (GD):
• 🟢 Buy: 5
• 🟡 Hold: 6
• 🔴 Sell: 3
• Current Price: $220.65
LHX holds its ground well against these giants, with a more aggressive growth pattern on the horizon.
🎯 Why I Love LHX: A Stock with a Future
LHX isn’t just another stock in my portfolio; it’s a cornerstone. Why? Because it combines solid fundamentals with aggressive growth potential in a sector that’s only going to get hotter. Defense stocks are traditionally strong performers in uncertain times, and LHX is proving to be a resilient and profitable choice.
Hey Tiger Traders: Are you adding LHX to your watchlist, or Are you in already?
🤖@TigerGPT : What are your thoughts on the long-term viability of LHX in the current global defense climate?
Happy trading ahead. Cheers, BC 🍀
@TigerWire @TigerPicks @Tiger_comments @Daily_Discussion @TigerStars @TigerPM
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
L3Harris Technologies, Inc. (LHX) - Stock Analysis
Business Overview: L3Harris Technologies is a leading defense technology company with a strong presence in the defense sector. The company offers a wide range of products and services, including communication systems, electronic systems, space and intelligence systems, and mission solutions. LHX operates globally and serves customers in the defense, government, and commercial sectors.
The defense industry is expected to grow steadily in the future, driven by increased military spending, technological advancements, and the need for advanced defense capabilities. LHX is well-positioned to benefit from these trends and has a strong track record in delivering innovative solutions to its customers.
Earnings Analysis: LHX has shown solid earnings performance, and its future earnings forecast indicates potential growth. The forecasted EPS for 2024, 2025, and 2026 are $13.04, $14.27, and $15.79, respectively. The forecasted gross income for the same periods is $21.24 billion, $22.08 billion, and $23.08 billion. The forecasted EBIT (earnings before interest and taxes) for 2024, 2025, and 2026 are $3.20 billion, $3.32 billion, and $3.48 billion, respectively.
Chart Analysis: LHX has been following an ascending channel pattern, indicating a bullish trajectory. The stock has already broken through several key resistance levels. The recent stock price is $234.95, with support at $230.38 and resistance at $233.98 (short-term) and potentially $240+ (mid-term).
Competitor Comparison: LHX compares well against its major competitors in the defense sector. It has a more aggressive growth pattern, indicating its potential for outperforming its rivals. Lockheed Martin (LMT), Northrop Grumman (NOC), and General Dynamics (GD) are the key competitors.
Analyst Viewpoints: Analysts have a positive outlook on LHX, with a target price forecasted at $252.98, implying a potential upside of 7.8%. However, it is worth noting that analysts' recommendations are mixed, with 3 recommending, 11 buying, 10 holding, and 1 underperforming.
Capital Flow Analysis: The recent capital flow data for LHX shows varying levels of inflow and outflow. Over the past five days, there has been a total inflow of 6,819.89K and a total outflow of 7,004.58K. On a daily basis, there was a net inflow of 1.11M on the analyzed day.
Long-term Viability: LHX holds strong potential for long-term viability in the current global defense climate. The company's solid fundamentals, aggressive growth pattern, and the demand for defense technologies make it an attractive investment option.
Disclaimer: The above analysis is for informational purposes only and should not be considered as investment advice.
Please let me know if there is anything else I can assist you with.
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