12 Best Internet of Things Stocks To Buy According to Analysts

4. Belden Inc. (NYSE:BDC)

Analyst Upside Potential: 20.96%

Belden Inc. (NYSE:BDC) is a global company that specializes in designing, manufacturing, and distributing network infrastructure and digitization solutions. It operates through Enterprise Solutions and Industrial Automation Solutions segments. Enterprise Solutions focuses on providing network infrastructure and broadband solutions for commercial applications such as audio/video systems, security, data centers, and wireless services. Whereas, the Industrial Automation Solutions segment provides network infrastructure to support industrial automation by enabling the acquisition, transmission, organization, and management of data.

On February 10, David Williams, an analyst from Benchmark Co. reiterated a Buy rating on the stock, while maintaining the price target of $130. The analyst noted that Belden Inc. (NYSE:BDC) has shown continued performance improvements, which support the positive outlook. Moreover, the demand for its products remains optimistic, driven by stable demand drivers and strengthening sectors where the company operates. Williams also likes the strategic shift towards offering solutions aligns well with secular themes like stronger domestic manufacturing, which is expected to drive substantial fundamental improvements.

In addition, Polen U.S. Small Company Growth Strategy in its Q4 2024 investor letter announced initiating a position in Belden Inc. (NYSE:BDC). The firm noted that its Solutions Transformation Strategy allows margin expansion and a recurring revenue model. Moreover, the firm also likes the mid-single-digit annual revenue growth and EPS growth of 10% to 12% projected through 2028. It is one of the best Internet of Things stocks to buy according to analysts.

Polen U.S. Small Company Growth Strategy stated the following regarding Belden Inc. (NYSE:BDC) in its Q4 2024 investor letter:

“During the quarter, we initiated positions in four new investments: Willscot Holdings, Trex, Fabrinet, and Belden Inc. (NYSE:BDC). We also added to several existing positions.

Finally, we started a new position in Belden as it is transforming into a solutions-driven leader in networking, connectivity, and security, focused on high-growth sectors like industrial automation, broadband services, and data centers. Its Solutions Transformation Strategy enables margin expansion, deeper customer relationships, and recurring revenue models, with a mid-single-digit annual revenue growth target and 10%-12% EPS growth through 2028. Belden’s strong balance sheet and disciplined management create additional upside opportunities.”