Belden initiated with a Buy at UBS

UBS initiated coverage of Belden with a Buy rating and $115 price target. Belden offers highly specialized products that enable digitalization and centers around data acquisition, transmission, orchestration, and management in various end-markets and setting, the analyst tells investors in a research note. The firm says share upside should be driven by recognition of the company’s growth profile. The shares look to be pricing in a 6% sales decline through 2025 versus UBS’s 4% growth estimate, notes the analyst.