UPDATE: D.A. Davidson Reiterates Neutral Rating, Raises PT on Belden Following Q4 EPS Report

In a report published Friday, D.A. Davidson analyst Brent Thielman reiterated a Neutral rating on

, and raised the price target from $80.00 to $85.00. In the report, D.A. Davidson noted, "Belden reported fourth quarter adjusted earnings of $1.24 per share compared to $0.91 last year. Results were essentially in line with our estimate of $1.25 and slightly above consensus of $1.22. Earnings adjustments exclude amortization, severance and restructuring costs, purchase accounting and deferred profit adjustments. GAAP EPS from continuing operations was $0.35 compared to $0.54 last year." Belden closed on Thursday at $84.25.