Timken price target raised to $104 from $90 at Oppenheimer

Oppenheimer analyst Bryan Blair raised the firm’s price target on Timken (TKR) to $104 from $90 and keeps an Outperform rating on the shares. The firm updated models in the industrials group as part of a Q4 preview. The firm cites favorable price carryover and currency moves entering the new year for the target bumps. It sees low-single-digit revenue growth for most companies. Opco favors names with “needle-moving” portfolio transformation, self-help initiatives, and relative valuation support.