Timken downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded Timken (TKR) to Underweight from Neutral with an unchanged price target of $100. The firm cites comparatively lower near-term upside for shares versus peers, rather than a negative long-term outlook, for the downgrade. The analyst sees limited near-term upside for Timken given the stock’s “premium valuation.”