Hubbell price target raised to $360 from $351 at Wells Fargo

Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Hubbell to $360 from $351 and keeps an Equal Weight rating on the shares. The firm notes Q1 2024 consensus was an overhang and Utility margins were light of its model in Q4 2023. But stable margins at 2023 levels and positive revision tailwinds on pricing actions, on top of some direction that de-risks Q1 2024, combined for a positive reaction, Wells argues.