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 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.