Illinois Tool Works price target raised to $255 from $233 at Stifel

Stifel raised the firm’s price target on Illinois Tool Works (ITW) to $255 from $233 and keeps a Hold rating on the shares. Management team meetings and commentary as well as the firm’s channel checks indicate “solid, stable demand” and the firm expects this to lead to many companies being comfortable enough to raise guidance on Q2 earnings calls, the analyst tells investors in a preview for the Diversified Industrials group.