Morgan Stanley analyst Christopher Snyder maintains $Hubbell (HUBB.US)$ with a hold rating, and adjusts the target price from $407 to $445.
According to TipRanks data, the analyst has a success rate of 50.5% and a total average return of 6.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Hubbell (HUBB.US)$'s main analysts recently are as follows:
Despite Hubbell falling short of Q3 organic growth forecasts and projecting Q4 figures roughly 350 basis points under the consensus if one excludes the impact of storm-related demand, the market's strong belief in the Utility segment's prospects over the coming year has enabled it to overlook these organic growth shortfalls and a prolonged inventory reduction. While there is a shared optimism for Utility segment improvements in the ensuing twelve months, there is some apprehension regarding the ambitious expectations set for FY25, particularly since Hubbell Utility volumes have grown at merely a 2% compound annual growth rate since 2020, despite numerous favorable conditions within the industry.
Hubbell's performance on margins remains strong, and the concerns regarding a potential margin contraction seem to be unsubstantiated.
The company's Q3 organic results were seen in a fairly positive light amidst a backdrop that has been unforgiving towards revenue shortfalls. This perception is partly due to the company's thematic exposure, which is expected to experience accelerated growth once the current headwinds in telecom and inventory destocking subside.
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