Huntington Ingalls Industries Inc
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Industrials : Aerospace & Defense | Mid Cap Value
Company profile

Huntington Ingalls Industries, Inc. is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company's business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy. It operates through three segments: Ingalls Shipbuilding (Ingalls), Newport News Shipbuilding (Newport News) and Technical Solutions. Its Ingalls segment includes its non-nuclear ship design, construction, repair and maintenance businesses. Its Newport News includes all of its nuclear ship design, construction, overhaul, refueling, and repair and maintenance businesses. Its Technical Solutions segment provides a range of professional services to the governmental and energy markets.

Closing Price
$208.06
Day's Change
-0.29 (-0.14%)
Bid
--
Ask
--
B/A Size
--
Day's High
210.00
Day's Low
206.18
Volume
(Average)
Volume:
274,074

10-day average volume:
303,432
274,074

UPDATE: Fisker, QuantumScape join 'buy' list at Morgan Stanley

11:57 am ET February 12, 2021 (MarketWatch)
Print

By Claudia Assis

In another sign that Wall Street is keeping electric-car makers and adjacent companies firmly in its sights, Morgan Stanley started covering the stocks of Fisker Inc. and several others.

Shares of Fisker (FSR), the EV maker that went public in October (https://www.marketwatch.com/story/fisker-is-going-public-five-things-to-know-about-the-electric-car-maker-ahead-of-its-ipo-2020-07-14) through a blank-check company, got a buy rating, as did shares of QuantumScape Corp. (QS), which also went public last year through a SPAC and made waves in December by what it described as a breakthrough in solid-state battery technology (https://www.marketwatch.com/story/quantumscape-stock-rallies-nearly-20-after-battery-showcase-2020-12-09).

As more auto makers and companies such as Apple Inc., which reportedly has been developing an electric car for years, work to secure a domestic supply of solid-state batteries, QuantumScape "may be very well positioned," the analysts, led by Adam Jonas, said in their note Friday.

If the technology, which has been lauded by several, works at scale "we see scope for (QuantumScape) to become one of the largest companies under our coverage," he said.

As for Fisker, it stands out "as one of the more de-risked and strategically underpinned business models," Morgan Stanley said. Investors may be underestimating Fisker's path to commercialization with the deal with auto parts maker Magna International Inc. (MG.T) it inked in January (https://www.magna.com/company/newsroom/releases/release/2021/01/04/news-release---magna-expands-with-fisker-secures-full-adas-system-business).

The analysts set a price target of $70 for QuantumScape and of $27 for Fisker, representing upside of 30% and 40%, respectively, from Friday prices.

Morgan Stanley started EV pickup maker Lordstown Motors Corp. (RIDE) at their equivalent of sell, saying that the company faces "a flood of new competition in EV pickups from startups to legacy OEMs with far greater scale and distribution advantages." It set its price target on Lordstown at $18, representing a downside around 35% from Friday prices.

Battery startup Romeo Power Inc. (RMO) was also started at the equivalent of a sell rating. The company "sits in the middle/downstream part of the value chain of batteries and does not appear to be involved in vehicle design or cell technology," the analysts said.

Too much of its contracted revenue comes from Nikola Corp. (NKLA) and Canada-based Lion Electric Co , and the stock performance is tied to how quickly Romeo can convert orders and maintain margins in face of "intense competition." The analysts had a $12 price target on Romeo, representing a downside around 30%.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

February 12, 2021 11:57 ET (16:57 GMT)

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