Illinois Tool Works price target lowered to $265 from $270 at Barclays

Barclays lowered the firm’s price target on Illinois Tool Works (ITW) to $265 from $270 and keeps an Equal Weight rating on the shares as part of a Q4 preview for the multi-industry sector. The firm sees a slow start to the year amid sluggish organic sales growth and currency headwinds and notes investor expectations “are moving quickly, with cyclicals again somewhat out of favor.”