A lot of what Belden (NYSE:BDC) does isn’t particularly exciting – cables, connectors, networking components, and the like – but that’s not such a bad thing. Exciting opportunities often attract a great deal more attention, and while Belden may not have the sexiest product lines, they’re essential components to automated factories and warehouses, data centers, connected homes, and smart buildings.
On top of that leverage to multiyear growth in automation and connectivity, Belden is still a self-help story as management pivots the company toward higher-growth, higher-margin businesses, reduces costs, improves operating efficiency, and deleverages. Although the shares have already doubled off their 52-week low, I can still see a path to $65-$75, and mid-to-high single-digit longer-term appreciation beyond that.
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Belden - A Picks-And-Shovels Play On Automation And Connectivity
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