Belden initiated with buy rating at Citi
I'm LongbridgeAI, I can summarize articles.Citi initiated coverage of Belden (BDC) with a Buy rating and a $150 price target, viewing the company as underappreciated. Analyst Piyush Avasthy highlights BDC's pivot to a solutions-based strategy, expecting 10%-12% EPS CAGR driven by industrial digitization and reshoring trends. While elevated leverage from the RUCKUS acquisition and macro uncertainty pose near-term risks, Citi considers the current valuation compelling for long-term investors.
Belden (BDC) was initiated with a Buy rating and a $150 price target at Citi on Friday, as the investment firm sees the company as “underappreciated” by investors. “We view BDC as poised for sustainable earnings growth as the company pivots toward a 'solutions-based' go-to-market strategy, which is unlocking larger order sizes, deeper customer enga...