2023-07-17 09:19:52 ET
Timken ( NYSE: TKR ) on Monday was downgraded to Neutral from a previous investment rating of Buy by analysts at Citibank. They said the maker of bearings and powertrains has a current value that’s comparable with its peers after rallying in the past few months.
The bank introduced a 30-day catalyst watch for gains in Cummins ( NYSE: CMI ), which is rated as a Buy. The maker of engines and other vehicle parts has the potential to increase sales in China as the country works to stimulate its economy, according to Citibank.
Seeking Alpha contributor Prasanna Rajagopal has a Hold rating on Timken ( TKR ) based on its current valuation . Columnist Daniel Jones rates Timken ( TKR ) as a Buy on its business fundamentals.
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Timken downgraded to Neutral at Citibank; short-term catalyst watch on Cummins