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.
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 raised to $285 from $255 at UBS
- Illinois Tool Works price target raised to $278 from $265 at Baird
- Illinois Tool Works price target raised to $284 from $271 at Citi
- Illinois Tool Works price target raised to $270 from $250 at Wells Fargo
- Illinois Tool Works price target raised to $310 from $275 at JPMorgan