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UPDATE: J.P. Morgan Raises PT to $63 on Hubbell


A report from J.P. Morgan reiterates its Overweight rating and raises its price target from $61 to $63 on Hubbell (NYSE: HUB.B).

The report states, “Hubbel posted a solid beat in 3Q, driven by seemingly resilient T&D demand. With this end market seeing continued momentum into the end of this year, the set up for 2012 looks increasingly positive, and a relative growth area in a tougher environment."

HUB.B closed yesterday at $57.20.


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