Jefferies Reiterates Buy Rating on Timken on 'Two More Paths to Value'
In a report published on Monday, Jefferies analyst Stephen Volkmann reiterated a Buy rating and a price target of $65 on Timken (NYSE: TKR).
In the report, Jefferies stated, "We continue to expect Timken to take action that will enhance value before the end of the year. We have previously highlighted several options, including a potential split, share repurchases and dividends, as well as a potential tailwind from an industry recovery. In this report we examine two additional paths, an LBO transaction and an outright sale of the Steel business."
Timken closed on Friday at $56.37.
Latest Ratings for TKR
|Oct 2014||Bank of America|
|May 2014||Gabelli & Co.||Upgrades||Hold||Buy|
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