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Fly News Breaks for August 1, 2019
Aug 1, 2019 | 07:41 EDT
Stifel analyst Noelle Dilts noted that Belden reported disappointing guidance and Q2 results, due mainly to a deeper than expected slowdown in the Discrete manufacturing market. She believes that Belden will respond quickly with cost actions and anticipates that the company will communicate the conclusions of its strategic review in early fall, which could be a catalyst for the stock. Following the report, Dilts lowered her price target on Belden shares to $57 from $70 but keeps a Buy rating on the stock.
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