Bel Fuse initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Bel Fuse (BELFA) (BELFB) with an Outperform rating and $105 price target Bel over the past few years has executed material upgrades in management, portfolio mix, operations, pricing models, and products, and current valuations levels are a “stable and solid entry point,” the analyst tells investors in a research note. The firm says Bel is delivering all-time high margins in a “presently very challenging” 2024 market cycle, now with “fairly apparent signs for favorable cyclical inflection.”