JPMorgan Chase & Co. Increases Harris Corp. Price Target to $60.00 (HRS)
Analysts at JPMorgan Chase & Co. boosted their price objective on shares of Harris Corp. (NYSE:HRS) from $54.00 to $60.00 in a research report issued to clients and investors on Wednesday, Analyst Ratings News reports. JPMorgan Chase & Co.’s target price would indicate a potential downside of 14.82% from the stock’s previous close.
Shares of Harris Corp. (NYSE:HRS) opened at 70.44 on Wednesday. Harris Corp. has a 1-year low of $41.08 and a 1-year high of $72.33. The stock has a 50-day moving average of $68.61 and a 200-day moving average of $61.42. The company has a market cap of $7.528 billion and a P/E ratio of 23.58.
Harris Corp. (NYSE:HRS) last posted its quarterly earnings results on Monday, January 27th. The company reported $1.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.18 by $0.09. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company posted $1.25 earnings per share. Harris Corp.’s revenue was down 4.9% compared to the same quarter last year. Analysts expect that Harris Corp. will post $4.81 EPS for the current fiscal year.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of Harris Corp. in a research note to investors on Thursday, December 19th. They now have a $71.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $61.40.
Harris Corporation (NYSE:HRS), together with its subsidiaries, is an international communications and information technology (IT) company serving government and commercial markets in more than 125 countries.
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