UPDATE: Barrington Research Initiates Beldon at Outperform

Barrington Research initiated coverage on Beldon

at an Outperform rating and a price target of $40. Barrington Research noted, “We are initiating research coverage on Belden with an OUTPERFORM rating and a $40 price target based on a discounted valuation and its strategic initiatives that have expanded the company's platform mix into higher-margin products and growing markets. We believe that Belden's concentration in higher growth/higher margin products facilitates a premium trading multiple versus its peer group.” Beldon closed at $31.95 on Monday.