Information Provided By:
Fly News Breaks for November 17, 2016
TKR
Nov 17, 2016 | 08:11 EDT
As previously reported, BofA/Merrill downgraded Timken to Neutral from Buy and raised its price target to $40 from $35. Analyst Ross Gilardi said shares are up sharply with the group on expectations of fiscal stimulus and China acceleration but said a rising US fiscal deficit, higher interest rates, and a stronger US dollar are generally not a positive for Timken's end markets of commodities and emerging markets.