UPDATE: DA Davidson Initiates Neutral, $37 PT on Belden on Pressured Multiples
DA Davidson initiates Belden (NYSE: BDC) with a Neutral rating and a price target of $37.
DA Davidson notes, " We are initiating coverage with a NEUTRAL rating and $37 price target. Belden is an attractive long-term story with intriguing themes. However, we believe multiples could remain under pressure as concerns regarding Europe weigh on the shares."
BDC closed at $32.62 on Thursday.
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