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HII downgraded to Hold at TD Cowen on lingering execution challenges
The Fly

HII downgraded to Hold at TD Cowen on lingering execution challenges

As previously reported, TD Cowen downgraded HII (HII) to Hold from Buy with an $180 price target Shipbuilding execution challenges will linger, lowering absolute margin levels for an “extended period,” and there are no major near-term catalysts the firm sees coming to change this view, the analyst tells investors. Q4’s implied shipbuilding margin ranges from 3%-6%, which is “a wide, but much lower range vs. the 8%+ range assumed just months ago,” the analyst noted.

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