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Benchmark raised its price target on Belden, Inc. (NYSE: BDC) to $130.00 from $120.00 on Tuesday, while maintaining a Buy rating on the stock. According to InvestingPro data, analyst targets for Belden range from $120 to $145, with three analysts recently revising their earnings expectations upward for the upcoming period.
The price target increase follows Benchmark’s recent site tour of Belden’s Customer Innovation Center, where analysts met with company leaders including CFO Jeremy Parks.
Benchmark cited Belden’s ongoing transformation from a parts supplier into a value-added solutions partner as a key factor in the decision, noting this strategic shift is "accelerating" and "yielding significant financial benefits while providing a durable competitive advantage."
The firm highlighted three main takeaways from its visit: tangible efficiency gains from Belden’s solutions, clear financial impact evident in margin expansion, and substantial runway for growth as the strategy expands across business segments and new verticals.
Benchmark believes the market "is still underappreciating the depth of this transformation and the sustainability of its positive effects on growth and profitability."
In other recent news, Belden Inc (NYSE:BDC). reported strong first-quarter results for 2025, surpassing earnings and revenue expectations. The company achieved earnings per share of $1.60, exceeding the forecasted $1.49, and reported revenue of $625 million, compared to the expected $614.68 million. This reflects a 17% increase in revenue year-over-year. Analysts at Benchmark maintained a Buy rating on Belden with a $120 price target, citing sustained demand and improving order trends as positive indicators. Truist Securities also reaffirmed a Buy rating with a $132 price target, emphasizing Belden’s strategy and partnerships, such as the one with Accenture (NYSE:ACN), which continue to support its growth.
Additionally, Belden introduced its new 10GXM13 Category 6A Cable, designed for smart building infrastructures, highlighting its commitment to innovation in connection solutions. The compact cable is intended to meet the growing bandwidth demands while enabling high-density installations. Meanwhile, Belden’s annual stockholder meeting saw the re-election of directors and the ratification of Ernst & Young as the company’s auditor, reflecting stockholder confidence in the company’s leadership. These developments underscore Belden’s strong market position and strategic focus on growth and innovation.
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