Hubbell price target raised to $475 from $402 at Barclays

Barclays analyst Julian Mitchell raised the firm’s price target on Hubbell (HUBB) to $475 from $402 and keeps an Equal Weight rating on the shares. Amid a “slightly brighter demand outlook” for short cycle industrial goods, the firm adjusted ratings in the U.S. multi-industry group as part of a 2025 outlook. Short cycle industrial goods are likely to be the key area of acceleration in 2025, the analyst tells investors in a research note. The firm says valuations are now at or approaching all-time highs for most stocks, “despite / because of all-time high earnings.”