Citi initiates coverage on Belden with a Buy rating, citing undervaluation and potential for sustainable earnings growth.
Citi initiated coverage on Belden (BDC) with a Buy rating and a $150 price target, identifying the company as underappreciated by investors. The firm expects sustainable earnings growth for Belden moving forward.
The initiation follows Citi’s assessment of the company’s market position and growth prospects. No prior consensus or comparable ratings were provided in the release.
Belden’s stock may see upward pressure as investors react to the new rating and price target.