David Williams, an analyst from Benchmark Co., reiterated the Buy rating on Belden (BDC – Research Report). The associated price target remains the same with $130.00.
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David Williams’s rating is based on Belden’s continued performance improvements and optimistic demand outlook, which are key factors in maintaining a Buy rating with a price target of $130. Williams acknowledges the company’s prudent approach in its guidance, factoring in potential uncertainties related to trade policy that could impact early-year investment decisions. Despite this cautious tone for the first quarter, the long-term outlook remains positive, with management anticipating a record year in 2025.
Williams also highlights the stable demand drivers and strengthening sectors in which Belden operates, supported by favorable purchasing manager index data and order trends. The company’s strategic shift towards a Solutions approach and alignment with secular themes, such as stronger domestic manufacturing, are expected to drive substantial fundamental improvements. Although foreign exchange headwinds and a lower revenue base for the first quarter pose challenges, the current guidance suggests potential upside, reflecting a de-risked forecast.