Market Overview

UPDATE: JP Morgan Initiates Huntington Ingalls Industries at Neutral with $46 PT

Related HI
Benzinga Weekly Preview: Twitter To Release Earnings For The First Time Since Going Public
Hillenbrand Increases Quarterly Dividend to $0.1975 Per Share

JP Morgan initiated its coverage on Huntington Ingalls Industries (NYSE: HI) with a Neutral rating and a price target of $46 as it would like to see more risk retired as management works on a long-term turnaround.

JP Morgan commented, "HII has a solid position as one of two primary shipbuilders for the US Navy, yet underperforming ships have weighed on performance in recent years. Management has laid out a long-term vision for the company to overcome these struggles that would make today's valuation attractive if achieved. However, we would like to see more risk retired before we get more constructive on the stock."

Huntington Ingalls Industries closed at $40.34 on Monday.

Latest Ratings for HI

DateFirmActionFromTo
Oct 2013Hilliard LyonsDowngradesBuyLong-term Buy
Sep 2013CL KingInitiates Coverage onStrong Buy
Aug 2013DavenportInitiates Coverage onBuy

View More Analyst Ratings for HI
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (HI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional