Wolfe Research analyst Nigel Coe upgraded Hubbell to Peer Perform from Underperform and removed the firm’s prior $344 price target. Following recent underperformance, Hubbell’s relative valuation “now looks more attractive,” says the analsyt, who sees upside risk to 2023 and 2024 estimates. The firm estimates a year-end 2024 fair value range for shares at $201-$416, the analyst noted.
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