Belden price target raised to $119 from $101 at Truist

Truist raised the firm’s price target on Belden to $119 from $101 and keeps a Buy rating on the shares after meeting with its management. The company’s solution selling is helping to preserve revenue and margin performance in an otherwise challenging environment, while its Precision Optical deal is on track to close by the end of Q2 and unlock solution selling opportunities in the Broadband end market, the analyst tells investors in a research note.