Bel Fuse price target raised to $212 from $168 at Needham

Needham raised the firm’s price target on Bel Fuse (BELFB) to $212 from $168 and keeps a Buy rating on the shares. Following a fireside with Bel management yesterday, the firm has come away more optimistic about upside potential to estimates, driven by continued strength in A&D, recovering demand in parts of the company’s commercial business, including networking and commercial aerospace and the likelihood of steady gross margins and improved operating leverage with better organic revenue growth, the analyst tells investors in a research note.