Belden price target raised to $100 from $90 at Loop Capital

Loop Capital analyst Chris Dankert raised the firm’s price target on Belden to $100 from $90 and keeps a Buy rating on the shares. The company’s Q4 earnings beat was “impressive”, aided by favorable tax items and stronger-than-expected sales growth across both segments, the analyst tells investors in a research note. Expectations of machine tool orders called for upside to Automation sales, which was generally realized, supporting the view that this indicator is returning to relevance following the supply chain and order dislocation of the past 18 months, Loop Capital added.