Loop Capital analyst Chris Dankert maintains $The Timken (TKR.US)$ with a hold rating, and adjusts the target price from $87 to $85.
According to TipRanks data, the analyst has a success rate of 77.8% and a total average return of 19.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $The Timken (TKR.US)$'s main analysts recently are as follows:
The firm observed that Timken's shares experienced a significant drop of 12.9% following the company's third-quarter results, which fell short of expectations, along with adjusted forecasts for 2024. While third-quarter revenue slightly exceeded forecasts, the shortfall was mostly due to factors considered to be non-recurring. The firm anticipates that the fourth-quarter projections are on the cautious side, suggesting potential for modest upside given current order rates and cost reduction measures. Importantly, the firm's medium-term outlook remains largely intact, with continued optimism for Timken's ability to significantly boost profitable growth through both organic and inorganic strategies.
The decline in Timken's shares post-Q3 results and conference call is believed to have been sparked by its Q3 performance falling short of expectations, implied guidance for Q4 not meeting consensus, and early cautious commentary for 2025. Consequently, there has been a revision in estimates.
Note:
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