Illinois Tool Works price target lowered to $235 from $250 at Wells Fargo

Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Illinois Tool Works to $235 from $250 and keeps an Equal Weight rating on the shares ahead of quarterly results. The firm is largely in-line on EPS estimates, and thinks guidance will be maintained to slightly raised across most of the group. As in recent quarters, Wells expects revenue beats/misses will be the primary driver of relative performance.