Illinois Tool Works PT cut by brokerage on end-market softness

Illinois Tool Works

11/07/2024 15:30

** Brokerage Jefferies cuts PT on equipment manufacturer
Illinois Tool Works'  ITW.N  shares to $240 from $275, maintains
"hold" rating
    ** Brokerage sees low single digit percentage growth through
2025 as weaker consumer and residential markets offset positive
sales trends in commercial and industrials facing markets
    ** End-market softness in auto and welding services could
provide some downside risk - Jefferies
    ** 3 brokerages rate ITW "buy" or higher, 11 "hold" and 6
"sell" or lower; median PT $248 - LSEG
    ** Including session gains, stock down 8.5% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))