Bel Fuse price target raised to $175 from $140 at Oppenheimer

Oppenheimer raised the firm’s price target on Bel Fuse (BELFB) to $175 from $140 and keeps an Outperform rating on the shares. The firm notes discussions concentrated around focus shift to enhancing growth infrastructure from operational reset during 2021-present that delivered transformational profitability baselines vs. legacy of unorganized/non-systematic operating/financial disciplines; the enterprise sustained by distinguished brands, product, and engineering. Now, high-30%s gross margins and 20%-21% EBITDA margin, render Bel well-positioned to leverage firm operational positioning with a scaling institutional understanding how best to target new business wins/where to derive growth, under CEO Farouq Tuweiq, Oppenheimer adds.