Huntington Ingalls Industries, Inc. (NYSE:HII) is among the 10 Best Defense Stocks to Buy in the S&P 500. On January 13, Citigroup’s John Godyn lifted the firm’s price target on the stock to $450 from $376, while reiterating a Buy rating.
The update comes as part of the firm’s adjustments of price targets and estimates for stocks in the aerospace and defense industry. In a research note to investors, the analyst said that he expects the ongoing momentum to continue during the first half of the year.
As of the close of business on January 19, Huntington Ingalls Industries, Inc. (NYSE:HII) is a Moderate Buy, with a one-year average share price target of $368.33, representing a downside of 13.52%.
In other news, on January 13, the shipbuilder’s Mission Technologies division secured an indefinite-delivery/indefinite-quantity contract for the Missile Defense Agency’s SHIELD program. According to the company’s press release, the award has a ceiling value of $151 billion and covers a wide range of areas aimed at strengthening homeland defense.
Huntington Ingalls Industries, Inc. (NYSE:HII) is an American defense company with expertise in shipbuilding. It was recently listed among the Best Defense Dividend Stocks to Buy.
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