Illinois Tool Works price target raised to $240 from $237 at Barclays

Barclays raised the firm’s price target on Illinois Tool Works (ITW) to $240 from $237 and keeps an Equal Weight rating on the shares. The firm sees high investor expectations for the multi-industry sector heading into the Q2 reports. Most companies are positioned to beat estimates and raise guidance despite tepid consumer demand, the analyst tells investors in a research note. However, Barclays sees a neutral risk/reward for stocks in the group despite positive estimate revisions given the recent sector rally.