Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Illinois Tool Works (ITW) to $255 from $245 and keeps an Underweight rating on the shares. Tone on short-cycle Capex demand was positive, the firm notes. Food Equipment and Specialty Products drove the Q1 organic miss, with a recovery in Q2 along with the outlook for solid margin expansion in focus, adds Wells.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ITW:
- Illinois Tool Works price target lowered to $295 from $303 at JPMorgan
- Illinois Tool Works Earnings Call Highlights Profits, Outlook
- Illinois Tool Works price target raised to $254 from $253 at Goldman Sachs
- Midday Fly By: Alphabet, Meta, Amazon, Microsoft report quarterly beats
- Illinois Tool Works reports Q1 EPS $2.66, consensus $2.56