Credit Suisse Upgrades Huntington Ingalls (HII) to Neutral

Credit Suisse upgraded Huntington Ingalls (NYSE: HII) from Underperform to Neutral with a price target of $130.00 (from $115.00).

Analyst Robert Spingarn commented, "HII has been harvesting reserves from prior conservative margin bookings (as it should) from the earlier stages in programs as it retires risk on the back end. We remain concerned about the eventual roll-off of high maturity programs at Ingalls (LHAs/LPDs/NSC) and NNS (CVN-78), as this eventual program turnover could cause margins to revert a bit. However, this is dependent on the ability to retain maturity under serial production into the next wave of ships (LPD-28, LHA-7/8). Other ships, such as T-AO(X), if won, can reintroduce some risk into sector margins."

For an analyst ratings summary and ratings history on Huntington Ingalls click here. For more ratings news on Huntington Ingalls click here.

Shares of Huntington Ingalls closed at $124.96 yesterday.

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