Timken price target raised to $85 from $82 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Timken (TKR) to $85 from $82 and keeps a Neutral rating on the shares. The company reported segment EBITDA topping consensus estimates, largely driven by better performance in Engineered Bearing and modestly better performance in Industrial Motion segments, the analyst tells investors in a research note. Goldman adds that the below-consensus FY25 guide is “reasonable” as Industrial Motion remains pressured in Europe whereas Engineered Bearings is expected to benefit from strength in Aero/Rail.