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Huntington Ingalls hiked to Outperform at Cowen

Published 02/02/2018, 02:42 PM
© Reuters.  Huntington Ingalls hiked to Outperform at Cowen
  • Huntington Ingalls (HII +0.7%) is upgraded to Outperform from Market Perform with a $275 price target, lifted from $252, at Cowen, which believes the shares are "excessively discounted" relative to the large-cap defense peer average.
  • The firm sees HII as an "overlooked value" and thinks sentiment on defense stocks likely will remain strong given a funding uptick in the forthcoming FY 2019 defense budget request, lower corporate tax rates and geopolitical tension.
  • HII is a rare gainer in today's sweeping market losses that have included the hot defense contracting sector.
  • Now read: My Favorite Defense Names For 2018 And Beyond


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