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))