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Fly News Breaks for May 9, 2018
RTN, HII
May 9, 2018 | 06:53 EDT
Citi analyst Jonathan Raviv upgraded Huntington Ingalls (HII) to Buy while lowering his price target for the shares to $260 from $290. Now that earnings expectations have been reset, the shares are attractively valued on cash and earnings, with above-average visibility, Raviv tells investors in a research note. He believes Defense stocks "can still work" amid better than expected "budget dynamics." Raytheon (RTN) remains Raviv's top pick.
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