UPDATE: Goldman Sachs Upgrades Huntington Ingalls Industries to Neutral on Margins, Navy Resiliency

Goldman Sachs raises its price rating on Huntington Ingalls Industries HII from Sell to Neutral from $31 to $39. Goldman Sachs comments, "We are not positive on the stock and do not see significant upside potential, as we think current levels already discount expectations for better margins and a flat top line. But we also see limited downside as the Navy is emerging as the winner in DoD budget deliberations, expectations are still generally low, and the potential to implement new capital deployment strategies looms as a catalyst. Since adding HII to the Sell List on 9/28/11, it is up +58% vs. the S&P 500 up +17%, as the Navy plan and HII margins have both proved better than expected. Over the past 12 months HII is +8% vs. the S&P +6%." HII closed at $39.07 on Tuesday.
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Posted In: Analyst ColorUpgradesPrice TargetIntraday UpdateAnalyst RatingsGoldman Sachs
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