HII upgraded to Buy from Sell at Goldman Sachs

Goldman Sachs analyst Noah Poponak double upgraded HII (HII) to Buy from Sell with a price target of $234, up from $145. The firm expects Navy shipbuilding to be relatively high priority within the defense budget medium-term and for HII to benefit. A recent executive order appears to cement the administration’s focus on domestic maritime labor, supply chains, and production, and there is the possibility for Shipyard Accountability and Workforce Support language to be implemented in the future, the analyst tells investors in a research note. Goldman says that could drive margin upside for HII.