After Credit Suisse and Goldman Sachs 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 $170. The company’s shares closed yesterday at $155.17.
According to TipRanks.com, Khanna is a 5-star analyst with an average return of 14.0% and a 79.8% success rate. Khanna covers the Consumer Goods sector, focusing on stocks such as Transdigm Group Inc, Huntington Ingalls, and Vista Outdoor.
Currently, the analyst consensus on Harris is Strong Buy and the average price target is $179, representing a 15.4% upside.
In a report issued on May 3, Credit Suisse also maintained a Buy rating on the stock with a $189 price target.
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Based on Harris’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.57 billion and net profit of $200 million. In comparison, last year the company earned revenue of $1.49 billion and had a net profit of $79 million.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.
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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.
