Belden price target raised to $101 from $98 at Truist

Truist raised the firm’s price target on Belden to $101 from $98 and keeps a Buy rating on the shares. The company’s Q1 earnings beat bucks the negative reads in industrial automation and broadband, the analyst tells investors in a research note. The firm attributes Belden’s better performance to its transition from product sales to solution sales, which is “building success”.