Will This Upgrade Help Harris (HRS) Stock Today?

NEW YORK (TheStreet) -- Harris Corporation (HRS) was upgraded to "perform" from "underperform" at Oppenheimer on Wednesday after the company reported its 2014 third quarter earnings and revenue increased over the same period last year.

Income from continuing operations during the third quarter was $137 million, or $1.27 per diluted share, compared to the $125 million, or $1.12 per diluted share from the third quarter 2013.

Harris reported revenue for the third quarter 2014 was $1.27 billion up from $1.20 billion in the year ago quarter.

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Separately, TheStreet Ratings team rates HARRIS CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate HARRIS CORP (HRS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, solid stock price performance, expanding profit margins, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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