Belden, Inc. (BDC) PT Raised to $170 at DA Davidson on Ruckus Acquisition

DA Davidson analyst Chris Dankert raised the price target on Belden, Inc. (NYSE: BDC) to $170.00 (from $155.00) while maintaining a Buy rating.

The analyst commented, "Following our channel checks and additional diligence on BDC’s acquisition of Ruckus we have increased confidence in the differentiation of Ruckus’s offering and cross-selling opportunities with legacy BDC solutions. Our work suggests Ruckus provides a niche capability and deep customer loyalty within several key markets that align well with BDC, while the Wi-Fi 7/8 upgrade cycles provide catalysts for Belden to expand wallet share. We are reiterating our ‘BUY’ rating for BDC and raising our PT to $170 (+$15), which reflects 14.7x our newly introduced CY28 EPS forecast of $11.55."

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