Bernstein Maintains Outperform on L3Harris (LHX) as Revenue Tops Estimates

L3Harris Technologies, Inc. (NYSE:LHX) is included among the 10 Best Stocks to Buy Now for a $1 Million Portfolio.

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On May 4, Bernstein analyst Douglas Harned lowered the firm’s price recommendation on L3Harris Technologies, Inc. (NYSE:LHX) to $405 from $435. It reiterated an Outperform rating on the shares. The firm pointed to the company’s first-quarter results, reported on April 30. L3Harris posted earnings per share of $2.72, ahead of the consensus estimate of $2.53. Revenue came in at $5.7 billion, also above expectations of $5.4 billion.

During the company’s Q1 2026 earnings call, Christopher Kubasik said L3Harris had earlier agreed to sell a 60% stake in its Space Propulsion & Power Systems business.

He also said the company announced and completed a partnership that included a $1 billion investment from the Department of War. In addition, Kubasik noted that L3Harris had confidentially filed a Form S-1 with the SEC to take its Missile Solutions segment public. Kubasik further stated that the company’s backlog had nearly doubled to more than $40 billion.

He added that the total still did not include another $25 billion in orders connected to the Munitions Acceleration Council programs, which remain under negotiation.

L3Harris Technologies, Inc. (NYSE:LHX) provides end-to-end technology solutions across the space, air, land, sea, and cyber domains in support of national security efforts. The company operates through four segments: Space & Airborne Systems (SAS), Integrated Mission Systems (IMS), Communication Systems (CS), and Aerojet Rocketdyne (AR).

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