I've been playing with the Lexington since it came out and it is on big giant beautiful... piece of trash.  It's huge, has a huge hitbox and is maybe the most broadsideable ship in the whole game. Anyone trying to shoot it will certainly be able to, and due to its size it's a big magnet that everyone loves shooting at.  Subs can torp it with ease since it's so huge.  DBs almost can't miss.  Bombers might get two or three hits in sicne it's so large. 

And what do you get for cruising around in this sexy suicide machine?  You get a horrible spread that makes the ship offensively mediocre.

So how can you fix it?  Reduce the hitbox, improve the spread.  Not by much, but at least enough to hit fairly reliably at long range, and to give a modicum of survivability.  As it is right now almost anything can nuke the Lex from close range since it's impossible to miss, and can outshoot it from long range.