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UPDATE: Timken Lacks Near-Term Catalysts as Spin Approaches, Downgraded by KeyBanc

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On Tuesday, KeyBanc downgraded shares of Timken (NYSE: 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:

  • 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)

Shares of Timken are unchanged in pre-market trading. The stock has been a bright spot in a choppy market year-to-date, up 8.6 percent.

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: KeyBanc Steve BargerAnalyst Color Downgrades 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
View the Latest Analytics Ratings
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