HII Secures $393.3M Contracts; CoStar, Nuvalent, Evotec, Vistra, and Apple Get PT Boost
- June 23rd, 2023
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HII's (NYSE: HII) Newport News Shipbuilding division, through contract modifications worth $393.3 million, has changed the delivery approach for the aircraft carrier John F. Kennedy (CVN 79).
The modifications involve shifting work from the Post-Shakedown Availability completion to the baseline construction contract. As a result, John F. Kennedy is now scheduled to be delivered to the U.S. Navy on July 31, 2025.
The Gerald R. Ford-class aircraft carrier John F. Kennedy incorporates various enhancements, including an improved flight deck, upgraded weapons handling systems, and a redesigned island, all aimed at enhancing operational efficiency and reducing manpower requirements.
On Friday, $HII closed at $216.96, down $0.99 (0.45%).
CoStar Group, Inc. (Nasdaq: CSGP), a prominent provider of commercial real estate information and analytics, has been maintained with a Buy rating by Citigroup, accompanied by a raised price target from $92 to $105.
Despite $CSGP closing at $86.75 on Friday, the updated price target suggests a potential upside of $18.25 or approximately 21%, based on the investment firm's view.
Nuvalent, Inc. (Nasdaq: NUVL), a biopharmaceutical company focused on developing targeted cancer therapies, was maintained at an Overweight rating by JP Morgan, with the price target raised from $37 to $48.
With Friday's closing price at $43.85, the adjusted price target implies a potential upside of $4.15 or about 9.47% for $NUVL, according to the financial services firm's analysis.
Evotec SE (Nasdaq: EVO), a leading drug discovery and development company, received an upgrade from Morgan Stanley, shifting the rating from Equal-Weight to Overweight, accompanied by a raised price target from $12 to $16.
Based on Friday's closing price of $11.65, the adjusted price target suggests a potential upside of $4.35 or approximately 37.32% for $EVO, based on the investment firm's perspective.
Vistra Corp. (NYSE: VST), a major integrated power company, was maintained at an Overweight rating by Morgan Stanley, with the price target raised from $31 to $32.
Despite $VST closing at $25.10 on Friday, the adjusted price target reflects a potential upside of $6.90 or about 27.49%, based on the global financial services firm's assessment.
Apple Inc. (Nasdaq: AAPL), a global technology company known for its consumer electronics and software products, was reiterated with a Strong Buy rating by Tigress Financial, accompanied by a raised price target from $210 to $225.
Based on Friday's closing price of $186.68, the adjusted price target suggests a potential upside of $38.32 or approximately 20.53% for $AAPL, according to the financial services firm's perspective.
The provided price targets and potential upsides reflect the evaluations and perspectives of the respective firms, showcasing their anticipated growth in stock value based on analysis and expectations. It is important for investors to thoroughly consider these opinions when making investment decisions.
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)
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