BUZZ-L3Harris rises after Bernstein lifts rating on improved outlook

** Defense contractor L3Harris Technologies' shares LHX.N rise 1.2% to $205.50 premarket

** Bernstein upgrades rating to "outperform" from "market perfrom"

** Cites "improved company outlook, with the lower valuation post-election more than compensating for negative sentiment around defense (stocks)"

** Expects Donald Trump to still support LHX's defense capabilities, as he did in his first term, "even though there remains uncertainty on budget limits"

** Lowers PT to $267 from $289, still representing a 31.5% upside to the stock's last close

** 18 brokerages rate the stock "buy" or higher, six "hold" and one "sell"; their median PT is $268.50 - LSEG compiled data

** In 2024, stock down 0.16%

(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))