DA Davidson raised the firm’s price target on Timken to $101 from $94 and keeps a Buy rating on the shares after its Q1 earnings beat and guidance raise. Investors also received positive updates as the substantial decline in wind-energy market in China, which had dominated headlines for multiple quarters, finally appears to be flattening, leading to easy comps in late 2024 and early 2025, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TKR:
- Timken Company Announces CEO Transition and Compensation Details
- Timken price target raised to $87 from $78 at Loop Capital
- Timken raises FY24 adjusted EPS view to $6.00-$6.30 from $5.80-$6.20
- Timken reports Q1 adjusted EPS $1.77, consensus $1.51
- Timken Reports First-Quarter 2024 Results; Raises Full-Year Outlook