HUBB - Hubbell Incorporated: Rating Upgrade As FY24 Guidance Could See A Beat
2024-02-03 01:04:18 ET
Summary
- HUBB reported strong results for Q4 2023, with sales growing 10% and segment profit growing 34%.
- Management is guiding for organic growth of 3-5% in FY24, driven by positive end market demand trends and pricing actions.
- I expect a 12% 1-year return for HUBB based on a robust FY24 outlook.