Jefferies Downgrades Timken to Hold, Lowers Price Target to $85
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Stephen Volkmann has downgraded Timken (NYSE:TKR) from Buy to Hold and reduced the price target from $105 to $85.
December 20, 2023 | 12:33 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Timken's stock rating was downgraded by Jefferies from Buy to Hold, and the price target was lowered from $105 to $85.
The downgrade from Buy to Hold by a prominent analyst like Stephen Volkmann suggests a less optimistic outlook on Timken's stock performance. The reduction in the price target from $105 to $85 indicates a lowered expectation of the stock's future price, which could lead to a negative short-term impact on investor sentiment and the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100