Wunderlich Reiterates Buy and PT of $65 on the Timken Company

Wunderlich Securities reiterated its Buy rating on the Timken Company TKR. At the same time, Wunderlich left its price target on the company's stock unchanged at $65 after a meeting with the company's management. In a research report published today, Wunderlich states, "We visited Timken Company (TKR) steel mills yesterday in order to get an update on the company's operations following its strong 1Q11 results that were reported on April 26. Demand for specialized steel from Timken continues to be strong as we go into the end of 2Q. We reiterate our Buy rating and $65 price target on TKR shares." On Thursday, Timken added 0.64% to its value to close the day at $50.49.