KeyBanc raised the firm’s price target on Timken to $95 from $91 and keeps an Overweight rating on the shares following Q1 results. While the firm is maintaining its positive stance, KeyBanc has concerns about the organic growth slowdown across its short-cycle coverage and the persistent weakness in macro data. That said, despite slower and now negative growth in recent quarters, Timken has been able to drive relatively resilient margins, KeyBanc adds.
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