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UPDATE: KeyBanc Initiates Hubbell with Buy, $90 PT on Upside Potential

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KeyBanc initiates its coverage on Hubbell (NYSE: HUB.B) with a Buy rating and a price target of $90.

KeyBanc comments, "The Company, in our opinion, has: 1) favorable end market exposure; 2) a top tier management team; and 3) upside from M&A. We acknowledge that other investors have come to a similar conclusion (shares have recently outperformed peers), but believe that there is still 2x more upside potential vs. downside risk to shares over the next 12 months. While we historically like to see 3x the upside potential for BUY-rated stocks, we are making an exception given the uncertain macro environment and our confidence that Hubbell will outperform the majority of its peers over the next 12 months."

HUB.B closed at $74.70 on Friday.

Latest Ratings for HUB.B

DateFirmActionFromTo
Jun 2012KeyBancInitiates Coverage OnBuy

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Posted-In: KeyBancAnalyst Color Price Target Initiation Intraday Update Analyst Ratings

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