Truist lowered the firm’s price target on Illinois Tool Works (ITW) to $275 from $298 and keeps a Hold rating on the shares after its inline Q3 results. Enterprise Initiatives are now forecast to be positive 125bps to margins for the year, up from 100bps assumed in the previous guidance, and in Q4, sales are expected to improve 1% organically helped by the typical seasonal pick up in Test & Measurement offset by slower demand in Construction, the analyst tells investors in a research note.
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