Truist initiated coverage of Illinois Tool Works with a Buy rating and $301 price target. The analyst believes there are positive catalysts for Illinois Tool Works ahead. The company can complement organic growth through strategic acquisitions in higher growth adjacent markets am still has runway to improve margins 500 basis points relative to targeted levels of 30%, the analyst tells investors in a research note.
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Read More on ITW:
- ITW Board of Directors Declares Quarterly Dividend
- Illinois Tool Works downgraded to Underweight from Equal Weight at Wells Fargo
- Illinois Tool Works price target raised to $224 from $215 at Barclays
- ITW Reports Fourth Quarter and Full Year 2023 Results
- Illinois Tool Works sees 2024 EPS $10.00-$10.40, consensus $10.18
