9 Best Drone Stocks to Buy According to Wall Street Analysts

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6. L3Harris Technologies, Inc. (NYSE:LHX)

Share Price Upside: 30%

Number of Hedge Fund Holders: 48

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. Diluted EPS came in at $2.72, up 33% year-over-year and beating expectations by 19 cents. The company lifted its EPS guidance for the full year, banking on robust demand from the U.S. government for its weapons and defense systems.

L3Harris Technologies, Inc. (NYSE: LHX) provides advanced national security solutions across the air, land, space, sea, and cyber domains. It operates through four segments: Communication Systems, Integrated Mission Systems, Space & Airborne Systems, and Aerojet Rocketdyne.

While we acknowledge the potential of LHX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LHX and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Best Drone Stocks to Buy According to Wall Street Analysts.

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