Illinois Tool Works price target lowered to $245 from $250 at Wells Fargo

Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Illinois Tool Works (ITW) to $245 from $250 and keeps an Underweight rating on the shares. The EPS guidance mid-point was maintained, but organic is pacing toward the lower end of the range as a challenging macro appears to continue weighing on top line growth, the firm notes.