Timken appoints new CEO; shares down

Timken

05/09/2024 17:07

** Bearings and industrial motion products maker Timken
Company's  TKR.N  shares fall 1% to $78
    ** Co appoints Tarak Mehta as president and CEO, succeeding
Richard Kyle 
    ** Evercore last month cut TKR target price to $87 from $94;
rates stock "in line"
    ** Three of 11 brokerages rate the stock "buy" or higher,
seven "hold" and one "sell" or lower; their median PT is $89 -
LSEG data
    ** YTD, TKR down 1.16% as of last close

 (Reporting by Anshuman Tripathy in Bengaluru)
 ((Anshuman.Tripathy@thomsonreuters.com;))