Hubbell price target raised to $455 from $445 at Wells Fargo

Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Hubbell (HUBB) to $455 from $445 and keeps an Equal Weight rating on the shares. The company’s Q3 organic miss faired “relatively well” considering a tape that has been harsh on revenue shortfalls, which is due to favored thematic exposure with accelerating growth anticipated as telecom/destock headwinds abate, the analyst tells investors in a research note. The firm added that it increased its 2024 and 2025 adjusted earnings per share estimates.