Barclays Downgrades Huntington Ingalls Indus: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Barclays has downgraded Huntington Ingalls Industries (HII) from an Overweight to an Equal-Weight rating, while raising the price target from $250.00 to $280.00. HII's shares are currently trading down at $254.71, which is 0.63% lower than the previous day. The new price target suggests a potential upside of 9.93% from the current share price. Huntington Ingalls, spun off from Northrop Grumman in 2011, is a major military shipbuilder in the U.S., known for producing a variety of military ships and providing IT services to government agencies.
January 05, 2024 | 5:00 pm
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Barclays downgraded Huntington Ingalls Industries to Equal-Weight but increased the price target from $250 to $280. The stock is currently trading down by 0.63% at $254.71.
The downgrade to Equal-Weight suggests a neutral outlook on HII's stock, indicating that Barclays believes the stock is fairly valued at its current price. However, the increase in the price target to $280 implies that Barclays sees some potential for growth, albeit limited. The mixed signals from the downgrade and the raised price target may result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100