Jefferies Raises Price Target on Timken (TKR) to $65 After Analyst Day
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Price: $86.02 -0.68%
Rating Summary:
6 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
6 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Jefferies raised FY13 EPS estimates and its price target Timken (NYSE: TKR) from $60 to $65 following an analyst day. The firm is keeping its Buy rating.
The firm comments "Niche acquisitions and a continued focus on product innovations and geographic expansion are expected to drive a revenue CAGR of 7-12% for 2014 for an EPS target of $6.40-7.00. We raise our out year numbers and price target."
FY13 EPS estimates go from $5.75 to $5.90.
For an analyst ratings summary and ratings history on Timken click here. For more ratings news on Timken click here.
Shares of Timken closed at $53.33 yesterday.
The firm comments "Niche acquisitions and a continued focus on product innovations and geographic expansion are expected to drive a revenue CAGR of 7-12% for 2014 for an EPS target of $6.40-7.00. We raise our out year numbers and price target."
FY13 EPS estimates go from $5.75 to $5.90.
For an analyst ratings summary and ratings history on Timken click here. For more ratings news on Timken click here.
Shares of Timken closed at $53.33 yesterday.
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