Belden price target raised to $115 from $100 at Loop Capital

Loop Capital raised the firm’s price target on Belden to $115 from $100 and keeps a Buy rating on the shares. The company reported an “impressive” Q1 earnings beat as its market share gains helped partially offset destocking headwinds and deliver better-than-expected sale, the analyst tells investors in a research note. Loop also estimates that the pending Precision Optical acquisition can add about 25c-30c to EPS, and when combined with solid organic growth and further capital deployment, this puts Belden “within striking distance” of its 2025 EPS goal of $8.00, the firm added.