UPDATE: KeyBanc Upgrades TimkenSteel (TMST) to Overweight

February 22, 2021 11:48 PM EST
Get Alerts TMST Hot Sheet
Price: $11.17 -0.36%

Rating Summary:
    2 Buy, 3 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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(Updated - February 23, 2021 4:40 AM EST)

KeyBanc analyst Philip Gibbs upgraded TimkenSteel (NYSE: TMST) from Sector Weight to Overweight with a price target of $10.00.

The analyst comments "Post due diligence, we are upgrading shares of TMST to Overweight (from Sector Weight) via a material increase to our 2021-2022E EPS on macro recovery, better pricing (contract and spot), widening raw material spreads, and self-help. Our $10 price target represents 5.3x pension-adjusted EV/EBITDA on our average 2021-2022 recovery expectations vs. a normalized range of 4-7x."

For an analyst ratings summary and ratings history on TimkenSteel click here. For more ratings news on TimkenSteel click here.

Shares of TimkenSteel closed at $5.95 yesterday.

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