Timken downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc downgraded Timken (TKR) to Sector Weight from Overweight without a price target Following five quarters of negative organic growth, short cycle industrials are likely close to a bottom, the analyst tells investors in a research note. As such, the firm is shifting its ratings toward companies that have stronger competitive positions and pricing power, more identifiable catalysts, or more favorable end markets. Based on that, it upgraded RBC Bearings while downgrading Timken. KeyBanc thinks Timken could continue to face challenges in some of its important end markets like renewables, transportation, and heavy industries.