Timken upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Timken (TKR) to Overweight from Equal Weight with a price target of $93, up from $82. The firm also upgraded its Machinery industry view to Attractive as it expects 2025 to “offer clarity on key equipment cycles, warranting higher beta.” Machinery equipment cycles may be approaching a trough, the analyst tells investors in a research note. Morgan Stanley believes improved cycle visibility warrants adding some incremental beta to one’s portfolio. However, with macro and geopolitical uncertainty still abound, risk remains elevated, so the choices for higher beta are names that “represent the more de-risked and attractive fundamental stories” where value can be unlocked in the coming year,” contends Morgan Stanley.