Bel Fuse price target lowered to $93 from $117 at Northland

Northland lowered the firm’s price target on Bel Fuse (BELFA) (BELFB) to $93 from $117 and keeps an Outperform rating on the shares. The firm believes Bel Fuse’s “stellar” Q1 results reflect its overall business resiliency, budding growth initiatives, and margin enhancements and adds that its thesis on the company’s “solid insulation from tariffs was reinforced.” The firm’s price target decrease following the Q1 report is “solely due to a lower multiple,” the analyst tells investors.