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Fly News Breaks for January 27, 2017
TKR
Jan 27, 2017 | 06:49 EDT
Goldman analyst Joe Ritchie upgraded Timken to Conviction Buy with a $55 price target. The analyst believes Timken is positioned to benefit from accelerating industrial demand combined with improving short-cycle/distributor data points. He expects organic growth to inflect in Q2, grow normalized earnings 46% cycle-on-cycle, and said it one of the better cash generators in his SMID coverage.
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