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

Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Illinois Tool Works (ITW) to $250 from $245 and keeps an Underweight rating on the shares. Discussing the Electrical Equipment & Multi-Industry space, the firm says it expects largely underwhelming initial 2026 guidance ranges in a prudent approach to expectation setting.