Harris (HRS) Received its Third Buy in a Row


After Barclays and J.P. Morgan gave Harris (NYSE: HRS) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Gautam Khanna maintained a Buy rating on Harris today and set a price target of $194. The company’s shares closed yesterday at $145.91.

According to TipRanks.com, Khanna is a 4-star analyst with an average return of 7.0% and a 53.6% success rate. Khanna covers the Consumer Goods sector, focusing on stocks such as Transdigm Group Inc, Huntington Ingalls, and Vista Outdoor.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Harris with a $188.50 average price target, a 29.2% upside from current levels. In a report issued on December 4, Barclays also maintained a Buy rating on the stock with a $161 price target.

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Based on Harris’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.54 billion and net profit of $212 million. In comparison, last year the company earned revenue of $1.41 billion and had a net profit of $161 million.

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Harris Corp. engages in the provision of technology-based solutions for tactical communications, geospatial systems and services, air traffic management, avionics and electronic warfare, and space and intelligence. It operates through the following business segments: Communication Systems, Electronic Systems, Space and Intelligence Systems, and Corporate.

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