TD Cowen lowered the firm’s price target on HII (HII) to $420 from $460 and keeps a Buy rating on the shares. The firm noted shares have traded lower since its recent peak as defense sentiment soured and the company guided soft Q2 Ship margin. However, VCS/Columbia contracts are expected in Q2.
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Read More on HII:
- Gautam Khanna Reaffirms Buy on Huntington Ingalls, Trims Price Target to $420 on Updated Assumptions and Margin Upside
- HII awarded $220.65M Navy contract modification
- HII placed on ‘Positive Catalyst Watch’ at JPMorgan
- Huntington Ingalls Earnings Call Balances Growth And Risk
- HII reports Q1 EPS $3.79, consensus $3.73