Hubbell, Inc.’s (HUB.B) third quarter earnings beat the Zacks Consensus by a wide margin, although revenue was more or less in-line. Government initiatives, the company’s market position, the product line-up and acquisition strategy indicate a strong comeback once the economy is more conducive.
While there are signs of a recovery in the latter half of 2010, we believe near-term growth could be impacted by the non-residential slowdown, conservatism and transmission focus of utilities and general weakness in the industrial market. Consequently, we are downgrading HUB.B shares to Neutral.
Read the full analyst report on “HUB.B”
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