Why Huntington Ingalls Stock Popped on Wednesday
Investment banker Citigroup made the case last month for buying Huntington Ingalls (NYSE: HII) stock as a cheap way to invest in defense. Today, investors are finally getting the memo, and bidding up Huntington Ingalls stock a strong 10.5% (through 10:35 a.m. ET).
What's the catalyst today? None other than statements from President Donald Trump himself.
In his address to Congress last night, POTUS laid out a plan to "resurrect the American shipbuilding industry, including commercial shipbuilding and military shipbuilding." That seems music to HII investors' ears, and now they're buying this defense stock hand over fist.
Source Fool.com
Citigroup Inc. Stock
€118.78
-0.130%
The stock is an absolute favorite of our community with 41 Buy predictions and no Sell predictions.
On the other hand, the target price of 117 € is below the current price of 118.78 € for Citigroup Inc., so the potential is actually -1.5%.
