** J.P. Morgan raises price target on U.S. military shipbuilder Huntington Ingalls Industries HII.N to $235 from $190, an upside of marginal 1% to the stock's last close

** Rating unchanged at "neutral"

** Says VA submarine contract along with additional contracts will benefit co for rest of the year

** Adds U.S. commitment to boost shipbuilding capacity will help co's performance in coming quarters

** J.P. Morgan says reconciliation bill looks promising for HII

** Brokerage raises 2025 adj. EPS forecast to $14.70 from $13.95

** Four of 13 brokerages rate the stock "buy" or higher, 8 "hold" and 1 "sell"; their median PT is $235 - as per LSEG data

** As of last close, stock had risen 23.3% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))