Belden (BDC – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst David Williams from Benchmark Co. maintained a Buy rating on the stock and has a $120.00 price target.
David Williams has given his Buy rating due to a combination of factors that highlight Belden’s strategic positioning and growth potential. Despite a reduction in the price target from $130 to $120, Williams emphasizes Belden’s strong positioning to handle tariff challenges, largely due to its significant revenue focus in the Americas and minimal exposure to China. This positions the company well to benefit from the reshoring trend and the ongoing evolution in data infrastructure, particularly as artificial intelligence drives demand for more advanced fiber networks.
Additionally, while there is some macroeconomic uncertainty, the easing of inventory challenges and improving order rates are positive indicators for Belden. The company is expected to report earnings that align with or slightly exceed previous conservative guidance, suggesting potential upside. Despite potential near-term volatility, Belden’s strategic shift towards solutions and its ability to manage tariff impacts through strategic pricing support the Buy rating, as these factors collectively enhance its valuation and growth prospects.
Williams covers the Technology sector, focusing on stocks such as Belden, Analog Devices, and Cirrus Logic. According to TipRanks, Williams has an average return of 16.5% and a 44.41% success rate on recommended stocks.
In another report released on April 10, Goldman Sachs also maintained a Buy rating on the stock with a $120.00 price target.