UPDATE: Oppenheimer Raises Target on Hubbell to $80 - Hubbell (NYSE:HUBB)

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Oppenheimer reiterates its Outperform rating on Hubbell (NYSE: HUBB) and raises its price target $3 to $83 per share as the company's investor day reveals an impressive strategic focus. Oppenheimer says, "Following HUBB's Investor Day, we remain comfortable with our Outperform rating and maintain a positive bias toward operational and revenue outperformance in 2012. HUBB reported an acquisition pipeline with more actionable opportunities than ever (maintaining bias to bolt-ons), and noted orders are at or above expectations (broad-based), and based on current trends we would anticipate 2012 revenue growth more at the high end of 4-6% guidance."HUBB closed at $75.22 a share on Wednesday.

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