HII price target raised to $250 from $225 at TD Cowen

TD Cowen raised the firm’s price target on HII (HII) to $250 from $225 and keeps a Hold rating on the shares. The firm updated its model after meetings with management where they walked away incrementally more constructive on the stock, given improving trends in labor productivity and retention, a more favorable budget backdrop for Navy ships, and relatedly, better contract terms for the company that will be forthcoming on future ship contracts.