Citi analyst Andrew Kaplowitz raised the firm’s price target on Illinois Tool Works (ITW) to $279 from $266 and keeps a Neutral rating on the shares. With an upcoming change in U.S. administration, Citi remains “selectively bullish” on multi-industry companies as divergent market trends among industrial verticals could continue for the time being, the analyst tells investors in a research note. The firm says exposure to secular growth themes could remain at a premium, and it also favors selective exposure to emerging tailwinds such as “Trump beneficiaries,” value, and tactical short-cycle exposure.
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Read More on ITW:
- Illinois Tool Works price target raised to $290 from $255 at Jefferies
- Illinois Tool Works upgraded to Equal Weight from Underweight at Barclays
- Illinois Tool Works expanding margins in six of seven segments, says Argus
- Starbucks, Spotify downgraded: Wall Street’s top analyst calls
- Illinois Tool Works downgraded to Underperform from In Line at Evercore ISI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
