Citi Analyst Asiya Merchant Backs Bel Fuse As Overlooked AI Stock

Bel Fuse (BELFB) is up about 57% this year, but Citi analyst Asiya Merchant still sees more upside and initiated coverage on July 13 with a Buy and a $325 target. According to BeInCrypto, Merchant’s call comes as all six analysts covering Bel Fuse rate it Buy, with average upside of about 20% and second-quarter earnings due on July 29. Bel Fuse is not an AI pure play, but its power, protection and connectivity parts go into data centers, and its data segment grew about 14% last quarter while backlog rose 21%.