Hubbell price target raised to $450 from $370 at Mizuho

Mizuho raised the firm’s price target on Hubbell to $450 from $370 and keeps a Buy rating on the shares. The firm says electrification remains one of its favorite sub-sectors across industrials. Mizuho’s capital spending survey update points to a robust level of spending anticipated over the next several years, with the aggregate spend between 2024-2027 growing by a sum of $17B or 14% since the update one year ago, the analyst tells investors in a research note.