Timken price target raised to $88 from $83 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Timken (TKR) to $88 from $83 and keeps a Neutral rating on the shares after its Q3 earnings beat. The company’s organic growth of 0.6% was better than expected and the management narrowed its growth outlook, which is now predicated on organic growth of -1.75% vs. prior -2% and includes higher pricing and lower volumes expectations, the analyst tells investors in a research note.