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Fly News Breaks for February 27, 2020
Feb 27, 2020 | 08:21 EDT
Buckingham analyst Richard Safran downgraded Huntington Ingalls to Neutral from Buy with a price target of $242, down from $300. In a research note to investors, Safran notes that there is no change to his constructive Defense view, but regarding Huntington Ingalls, thinks investors reward stocks with a higher multiple based on how much they are earning above their cost of capital. Relative to peers, Safran says Huntington Ingalls already has relatively low returns, and doesn't see an opportunity in the near-term for the company to meaningfully improve how much it's earning above the cost of capital.
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