Oppenheimer Maintains an 'Outperform' on Hubbell (HUB-B) After Meetings with Management
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Price: $100.16 --0%
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer maintains an 'Outperform' on Hubbell Inc (NYSE: HUB-B), price target lowered from $83 to $78.
Oppenheimer analyst says, "We met with HUBB and discussed positioning of business units, strategy, and overall business trends. On order trends to date, HUBB remains comfortable with guidance for 7-9% revenue growth and 50 bps OM expansion. In the event of a broad economic downturn, we anticipate Utility distribution would be relatively resilient, barring a real downturn in electricity demand, and Transmission projects (many now specified) project longer lead times and visibility. Nonresidential is arguably at a bottom (value put-in-place trends support this) anyway. In our view, at this juncture, we think real cyclical risk could be confined to the half of industrial exposure that is general industrial (HV Test and H&H should hold up well) and potentially the relighting markets."
For more ratings news on Hubbell Inc click here and for the rating history of Hubbell Inc click here.
Shares of Hubbell Inc closed at $52.00 yesterday.
Oppenheimer analyst says, "We met with HUBB and discussed positioning of business units, strategy, and overall business trends. On order trends to date, HUBB remains comfortable with guidance for 7-9% revenue growth and 50 bps OM expansion. In the event of a broad economic downturn, we anticipate Utility distribution would be relatively resilient, barring a real downturn in electricity demand, and Transmission projects (many now specified) project longer lead times and visibility. Nonresidential is arguably at a bottom (value put-in-place trends support this) anyway. In our view, at this juncture, we think real cyclical risk could be confined to the half of industrial exposure that is general industrial (HV Test and H&H should hold up well) and potentially the relighting markets."
For more ratings news on Hubbell Inc click here and for the rating history of Hubbell Inc click here.
Shares of Hubbell Inc closed at $52.00 yesterday.
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