Baird analyst Luke Junk last night initiated coverage of Bel Fuse (BELFA) (BELFB) with an Outperform rating and $88 price target With an improved operational foundation established under CEO Farouq Tuweiq, Bel Fuse is “now pivoting to growth,” the analyst tells investors in a research note. The firm says the company is also positioned to supplement growth with acquisitions, with the recent Enercon acquisition signaling a reacceleration in activity. Further, cyclical dynamics are also leaning more positive, following a period of inventory de-stocking which now appears complete, contends Baird. It sees Bel Fuse as positioned for continued outperformance.
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