Illinois Tool Works price target lowered to $240 from $241 at Stifel

Stifel lowered the firm’s price target on Illinois Tool Works to $240 from $241 and keeps a Hold rating on the shares as the firm publishes its Q1 preview for the diversified industrials group. Industrial demand trends in general "appear to have remained solid despite the macro data that would suggest otherwise," the firm says based on its survey work, meetings with management teams and attendance at industry conferences, which adds that the focus will be on order rates, and specifically volume ex-price.