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Benzinga
Benzinga
Business
Akanksha Bakshi

Cowen Bumps Up Huntington Ingalls Price Target By 35%

Cowen HII United States Huntington Ingalls Industries Inc NYSE
  • Huntington Ingalls Industries Inc (NYSE:HII) has been upgraded to Outperform from Market Perform, and the price target was raised to $270 (an upside of 21.8%) from $200 by Cowen analyst Gautam Khanna.
  • The analyst mentions that the defense sector is facing improved budget growth prospects reflecting the Russia/Ukraine war and the prospect of further Russian/Chinese aggression.
  • According to Khanna, this is amplified by the need for both political parties in the U.S. to back national defense and American jobs during a midterm election year.
  • Khanna thinks Huntington Ingalls shares are incredibly cheap within the defense group.
  • Price Action: HII shares are trading higher by 4.21% at $222.03 on the last check Thursday.
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