Belden Price Target Raised to $147 by Truist Securities Amid Ongoing Transformation

Belden's (BDC) second-quarter performance and forecasted third-quarter results have led Truist Securities to raise its price target from $132 to $147 and maintain a Buy rating. The company's shift towards solution-based selling, including hyperscale data centers, drives its revenue growth. However, investors should be cautious of insider selling transactions and valuation metrics, which suggest potential overvaluation.