Mizuho has revised its price target for Hubbell Inc. (HUBB, Financial), decreasing it from $490 to $420, while maintaining an "Outperform" rating on the stock. This revision comes in light of expectations for declining short-term demand and the potential financial impact of increasing tariffs, particularly from China.
Despite initial checks indicating that first-quarter performance is aligning with expectations, investor attention is currently more focused on broader developments affecting the financial landscape. The financial firm predicts that the ongoing tariff escalation will pose significant challenges, with corporate entities already enhancing prices to counter some of these pressures. Nevertheless, Mizuho anticipates that there might be some unavoidable adverse effects that cannot be completely offset.
