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Fly News Breaks for February 21, 2019
BDC
Feb 21, 2019 | 06:31 EDT
Longbow analyst Shawn Harrison downgraded Belden to Neutral citing its valuation, saying the stock rallied by over 12% on a short covering rally yesterday and has now gained over 50% since his January 3rd upgrade. The analyst notes that he will now await the next round of catalysts, but adds after stabilizing its businesses and guiding double-digit free cash flow growth in FY19, the near-term catalysts toward multiple expansion will likely be incremental. Harrison further notes that there is little visibility on Belden's organic growth acceleration potential or the timing of any portfolio decisions.
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