From Financial Modeling Prep: 2024-11-26 08:27:00

Deutsche Bank analysts downgraded Hubbell (NYSE:HUBB) from Buy to Hold, with a price target adjustment to $473 from $493 due to a 24% stock price increase. The new valuation framework applies a 25x NTM price-to-earnings multiple, down from the previous 26x.

Potential upside risks for Hubbell include channel inventory normalization, increasing demand in utility transmission and distribution, and strong margin execution. However, downside risks include continued destocking by utility customers, challenges in raising prices further, and limited capital allocation opportunities.



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