Timken upgraded to Buy from Hold at Jefferies

Jefferies upgraded Timken to Buy from Hold with a price target of $175, up from $145, as part of a broader research note previewing 2025 for the Machinery and Industrial sector. The markets have been pricing in a “dire industrial scenario” which the firm sees as “unlikely”, the analyst tells investors in a research note. The setup for 2025 is “positive” amid continued rate cuts and with some kind of tax relief looking “likely”, the firm adds.