Mizuho has decided to maintain its Buy rating of Hubbell HUBB and raise its price target from $220.00 to $252.00.
Shares of Hubbell are trading up 0.55% over the last 24 hours, at $238.66 per share.
A move to $252.00 would account for a 5.59% increase from the current share price.
Hubbell is a diversified conglomerate industrial company that mostly competes in the electrical components market. Its products and services serve vital portions of the U.S. electrical supply chain, including transmission and distribution as well as the commercial, industrial, and residential end markets. The company organizes its business into two segments--electrical and power systems. The consolidated business sells about two thirds of its products via distributors, with the remainder sold via direct sales to utilities and contractors. The 2018 acquisition of Aclara, folded into the utility solutions segment, brought Hubbell a portfolio of smart meters and communication sensors that serves electrical, water, and gas utilities.
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