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UPDATE: Citigroup Reiterates Buy Rating, Raises PT on Huntington Ingalls Industries

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UPDATE: UBS Upgrades Huntington Ingalls Industries
Benzinga's Top Upgrades

In a report published Wednesday, Citigroup reiterated its Buy rating on Huntington Ingalls Industries (NYSE: HII), and raised its price target from $50.00 to $54.00.

Citigroup noted, “We're positive on HII primarily because it is the only defense company under our coverage with the opportunity to double margins over the long-term, coupled with improving cash dynamics that create the potential for dividends and improved shareholder returns. We believe margin improvement plans are within reach given performance at HII's closest comp: GD's Marine Systems. The risk to the story is fear of the unknown with regard to shipbuilding budgets, however we expect the US to continue to focus on power projection capabilities which implies a strong Navy.”

Huntington Ingalls Industries closed on Tuesday at $43.30.

Latest Ratings for HII

Aug 2014UBSUpgradesNeutralBuy
Aug 2014BarclaysMaintainsUnderweight
Aug 2014JP MorganMaintainsNeutral

View More Analyst Ratings for HII
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Analyst Ratings


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