J.P. Morgan cuts PT on Illinois Tool Works amid low growth environment

Illinois Tool Works

05/06/2024 13:19

** Brokerage J.P. Morgan cuts PT for Illinois Tool Works
 ITW.N  to $275 from $280, retains rating "overweight" 
    ** The new price target still represents a 14.26% upside to
the stock's last close
    ** Brokerage says "ongoing lower growth environment led to
organic growth guide undershooting" but sees margin expansion
opportunities via enterprise initiatives 
    ** Three of 20 brokerages rate the stock "buy" or higher, 11
"hold" and six "sell" or lower; their median PT is $253 - LSEG
    ** Shares down 8.12% YTD

 (Reporting by Aishwarya Jain in Bengaluru)
 ((Aishwarya.Jain@thomsonreuters.com;))