JPMorgan lowered the firm’s price target on Illinois Tool Works to $255 from $265 and keeps an Overweight rating on the shares. The analyst lowered machinery estimates across the board for 2024 and is modeling equipment volumes down across agriculture, construction, and truck and components. Caterpillar and Agco remain the firm’s top picks for 2024.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ITW:
- Illinois Tool Works price target lowered to $235 from $250 at Wells Fargo
- ITW Schedules Third Quarter 2023 Earnings Webcast
- Illinois Tool Works named short-term ‘Sell Idea’ at Deutsche Bank
- Illinois Tool Works announces CEO succession plan
- Illinois Tool Works price target lowered to $198 from $213 at Barclays
