HII price target lowered to $195 from $250 at BofA

BofA lowered the firm’s price target on HII (HII) to $195 from $250 and keeps an Underperform rating on the shares after the company “disappointed investors” with an adjusted EPS miss and a downward revision of its 2024 outlook. To the company’s credit, it is actively looking at innovative contracting methods and new hiring plans, says the firm, but to date the results have not been able to offset continued poor performance at the shipyards.