Belden price target lowered to $145 from $155 at Loop Capital

Loop Capital analyst Chris Dankert lowered the firm’s price target on Belden (BDC) to $145 from $155 and keeps a Buy rating on the shares. The company posted Q4 sales above the high-end of the guidance range for a 5th consecutive quarter as organic sales growth returned exiting the year, but USD strengthening and an uneven demand backdrop resulted in a softer-than-expected Q1 guide, the analyst tells investors in a research note. Belden remains “well positioned” to benefit from reshoring, North American industrial recapitalization, and rebounding automation demand however, Loop added.