Jefferies Analysts Raise Price Target on Timken (TKR) Shares to $60.00

Resource from: Timken Likes:3040

Apr 29,2011

(April 28, 2011) Equities research analysts at Jefferies boosted their price target on shares of Timken (NYSE: TKR) to $60.00 in a research note to investors on Wednesday. Separately, analysts at Jeffries raised their price target on shares of Timken from $54.00 to $60.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Also, analysts at Longbow Research raised their price target on shares of Timken from $60.00 to $65.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Shares of Timken traded down 0.34% during mid-day trading on Thursday, hitting $55.93. Timken has a 52 week low of $24.84 and a 52 week high of $57.83. The stock’s 50-day moving average is $50.25 and its 200-day moving average is $47.64. The company has a market cap of $5.475 billion and a price-to-earnings ratio of 20.00. Timken last announced its quarterly results on Tuesday, April 26th. The company reported $1.13 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.86 EPS by $0.27. During the same quarter in the prior year, the company posted $0.57 earnings per share. On average, analysts predict that Timken will post $0.93 EPS next quarter.

(Timken)

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