Earnings GrowthExpectations are for other companies like GEV, VRT, and ETN to grow earnings at a faster rate than HUBB, justifying a more premium valuation for them over HUBB.
Market ConditionsUncertainty in utility end customer destocking contributes to slightly below consensus adjusted EPS forecasts, limiting the stock's upside potential.
ValuationThe stock has gained 24% since the upgrade, closing in on the price target, resulting in a downgrade to Hold due to limited upside potential.