Truist cuts PT on Illinois Tool Works due to tariff concern

Illinois Tool Works

01/05/2025 16:35

** Truist Securities cuts price target on Illinois Tool Works ITW.N to $284 from $302, rating unchanged at "buy"

** The new price target shows 18.4% upside to the stock's last close

** Says overall demand was steady in Q1, however the impact on customer demand from tariffs remains unknown looking forward

** "For 2025, auto builds and relevant markets are projected to be down mid-single digits"- Truist

** Brokerage raises 2025 adj. EPS forecast to $10.30 from $10.20

** Co's shares up 1% to $243 on Thursday's trading

** ITW announced earnings on Wednesday

** 3 of 20 brokerages rate the stock "buy" or higher, 13 "hold" and 4 "sell" or lower; their median PT is $245

** Including session moves, the shares are down 4% YTD

 (Reporting by Apratim Sarkar)

 ((Apratim.Sarkar@thomsonreuters.com))