On Tuesday, KeyBanc downgraded shares of Timken TKR from Buy to Hold and removed the $70 price target. Analyst Steve Barger sees “fair valuation and few catalysts as spin approaches.”
The downgrade was based on a lack of any near term catalysts, “rather than any longer term structural or end market issues.”
Barger's is uncertain how shares will trade following the upcoming Steel segment spin-off in “late 2Q or early Q3.”
The analyst revised earnings per share estimates:
Market News and Data brought to you by Benzinga APIs- 1Q14 -- lowered from $0.85 to $0.78 (consensus $0.82)
- FY2014 -- lowered from $3.75 to $3.62 (consensus $3.71)
- FY2015 -- maintained $4.60 estimate (consensus $4.60)
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in