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Fly News Breaks for November 1, 2018
BDC
Nov 1, 2018 | 07:19 EDT
As reported earlier, SunTrust analyst William Stein downgraded Belden to Hold from Buy and lowered his price target to $56 from $84. The analyst cites "yet another weak quarter" in Q3 as Broadcast business underperformed and Industrial segment was held in check by component and labor shortages. Stein also lowers Belden's FY18 EPS view by 30c to $6.08 and FY19 by 80c to $6.18 while his implied valuation multiple target goes to 9-times expected forward earnings from 12-times.
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