Belden price target raised to $120 from $115 at Loop Capital

Loop Capital raised the firm’s price target on Belden to $120 from $115 and keeps a Buy rating on the shares. The company’s Q2 earnings beat was partially offset by slightly more conservative Q3 commentary, and this was enough to keep the stock buoyant in a rough macro tape, the analyst tells investors in a research note. The firm is also anticipating further EPS upside for Belden from cash deployment and a favorable solutions mix.