B of A Securities Downgrades Timken to Neutral, Raises Price Target to $100
Portfolio Pulse from richadhand@benzinga.com
B of A Securities analyst Ross Gilardi has downgraded Timken (NYSE:TKR) from Buy to Neutral, while raising the price target from $88 to $100.
July 21, 2023 | 1:47 pm
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NEUTRAL IMPACT
Timken's rating has been downgraded to Neutral from Buy by B of A Securities, but the price target has been raised from $88 to $100.
The downgrade to Neutral suggests that the analyst sees limited upside potential for the stock in the near term. However, the raised price target indicates an expectation of long-term growth. This could lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100