Timken price target raised to $86 from $80 at DA Davidson

DA Davidson raised the firm’s price target on Timken (TKR) to $86 from $80 and keeps a Neutral rating on the shares after its Q3 earnings beat. The company put up organic growth for the first time in two years, and while the outlook for Q4 appears to be negative, the firm got the sense that Renewables is finally up off its deep trough and multiple markets are coiled for a recovery going forward, the analyst tells investors in a research note.