- Evercore ISI analyst David Raso upgraded Timken Co (NYSE:TKR) to Outperform from In-Line and raised the price target to $78 (an upside of 12.9%), from $76.
- Raso downgraded Oshkosh Corp (NYSE:OSK) from Outperform to In-Line and set a price target of $124 (an upside of 7.4%).
- With Q4 earnings season “largely complete” for the Industrial Machinery names he covers, Raso notes that most companies posted EPS beats on revenues overpowering weak margins.
- The analyst is swapping small-to-mid cap exposure from Oshkosh to Timken on relative valuation after earnings as he downgrades the former to In-Line and upgrades the latter.
- Raso mentions that the target multiples across the group have been lowered to reflect higher interest rates and slightly lowered 2022 EPS estimates.
- Price Action: TKR shares are trading higher by 4.74% at $69.11 and OSK up by 1.56% at $115.49 on the last check Tuesday.
Nuvve Holding Reports Joins V2Market Partnership To Expand Vehicle-To-Grid Markets In Europe, No Terms Disclosed
Consortium of energy leaders form V2Market to develop market solutions for the deployment of V2G technology in Spain to deliver grid services, enhance resiliency, and accelerate the electrification of transportation
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