Illinois Tool Works price target raised to $280 from $275 at Truist

Truist raised the firm’s price target on Illinois Tool Works (ITW) to $280 from $275 and keeps a Hold rating on the shares after its Q4 earnings beat. There were two major positives coming out of the call – the company seemed more confident that industrial short cycle demand is improving and Q4 revenue grew 4% sequentially, which is double the roughly 2% typical sequential increase, the analyst tells investors in a research note.