I once built a full fledged target rifle on a 98 action. That was action, barrel, stock, trigger and sights.
When it was all said and done, it cost about $1500. (This was 20 years ago.) For about $300 more I could have done the same thing using a real target rifle action, like a Grunig or Musgrave, and had a much better rifle.
The Husky 270 is a great hunting rifle. I suggest you keep it as is, and start your project by buying a used target rifle. A solid bottomed single shot action with fast locktime, match trigger and a heavy stock would be a more stisfying rifle to work with.