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In a report released Monday, UBS analyst Darryl Genovesi upgrades Huntington Ingalls Industries (NYSE: HII) from Neutral to Buy, with a price target of $109.
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Analysts at UBS believe Huntington will recover from its recent underperformance within the defensive sector. Genovesi adds to the note by stating Huntington is appealing in a valuation standpoint, with a PE multiple near 9x. UBS expects Huntington to raise its EBIT margin within its core segment by nine percent or more over the next 12 months.
Huntington's $109 price target is displayed from UBS DCF, giving a WACC of nine percent.