Evercore ISI Upgrades Timken & Downgrades Oshkosh - Read Why

Loading...
Loading...
  • Evercore ISI analyst David Raso upgraded Timken Co TKR to Outperform from In-Line and raised the price target to $78 (an upside of 12.9%), from $76.
  • Raso downgraded Oshkosh Corp OSK from Outperform to In-Line and set a price target of $124 (an upside of 7.4%).
  • With Q4 earnings season "largely complete" for the Industrial Machinery names he covers, Raso notes that most companies posted EPS beats on revenues overpowering weak margins.
  • The analyst is swapping small-to-mid cap exposure from Oshkosh to Timken on relative valuation after earnings as he downgrades the former to In-Line and upgrades the latter.
  • Raso mentions that the target multiples across the group have been lowered to reflect higher interest rates and slightly lowered 2022 EPS estimates.
  • Price Action: TKR shares are trading higher by 4.74% at $69.11 and OSK up by 1.56% at $115.49 on the last check Tuesday.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsUpgradesDowngradesPrice TargetAnalyst RatingsMoversTrading IdeasBriefs
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!

Loading...