DA Davidson raised the firm's price target on Timken to $108 from $86 and keeps a Neutral rating on the shares after its Q4 results last week. The company posted 5.6% organic growth in the quarter on easy comps, but noted a flattish 1Q, even though the firm believes that chances are high that Timken ends the year on a high note, the analyst tells investors in a research note. DA Davidson adds it expects more detail on new-product development into faster-growth end markets such as humanoid robots.
