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UPDATE: Bank of America Lowers PT on Timken on Sharp 2H Recovery Being Unlikely

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In a report published on Monday, Bank of America analyst Ross Gilardi lowered the price target on Timken (NYSE: TKR) from $68 to $65 and maintained a Buy rating.

In the report, Bank of America stated, "We see further embedded value in Timken and a high probability of a split up and potential larger cash return in the next three months...and believe that forecasts for a sharp 2H rebound need to come down in light of sluggish top-line momentum. We reduce our 2013/15 EPS estimates by 6-12% and our DCF and S-O-P derived PO from $68 to $65."

Timken closed on Friday at $59.75.

Latest Ratings for TKR

DateFirmActionFromTo
Nov 2020B of A SecuritiesMaintainsBuy
Nov 2020KeyBancMaintainsOverweight
Oct 2020Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for TKR
View the Latest Analyst Ratings

 

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Posted-In: Bank of America Ross GilardiAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
PMTB of A SecuritiesMaintains18.5
IVRB of A SecuritiesMaintains3.0
EFCB of A SecuritiesMaintains15.5
NYMTB of A SecuritiesMaintains3.5
NLYB of A SecuritiesMaintains8.5
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