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.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter