Timken price target raised to $71 from $66 at DA Davidson

DA Davidson analyst Michael Shlisky raised the firm’s price target on Timken (TKR) to $71 from $66 and keeps a Neutral rating on the shares after its Q1 results. The firm was happy to learn that, at least for now, tariffs as currently implemented are likely to have a minimal short-term earnings impact on Timken while the company’s strategic changes are “progressing”, the analyst tells investors in a research note. Timken is also exiting its presence in the Auto sector, which is “admirable” considering other suppliers’ challenges over the years, the firm added.