Belden price target raised to $135 from $120 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Belden (BDC) to $135 from $120 and keeps a Buy rating on the shares as part of a broader research note on U.S. Autos and Industrial Tech industry. The firm is raising its US auto forecast to reflect more measured tariff levels than what had been initially proposed, even though it still expects auto sales in the US to moderate in the second half after pre-buying ahead of tariffs and what will likely be higher pricing in the second half due to tariffs, the analyst tells investors in a research note. Goldman Sachs sees US auto sales at 15.75M and 15.50M units in 2025 and 2026 respectively, compared to its prior forecast of 15.40M and 15.25M.