Belden price target raised to $136 from $124 at Truist

Truist raised the firm’s price target on Belden (BDC) to $136 from $124 and keeps a Buy rating on the shares. The company delivered another good quarter with its Q3 results and guided Q4 above consensus as well, and the firm remains positive on Belden’s improving revenue stability, margin expansion, and conservative messaging that could lead to further multiple expansion, the analyst tells investors in a research note.