Illinois Tool Works price target raised to $240 from $235 at Wells Fargo

Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Illinois Tool Works to $240 from $235 and keeps an Equal Weight rating on the shares. The firm sees modest upside risk to Q2 EPS and modest guidance revisions against a backdrop of high valuations, which makes for a tough setup this quarter, the analyst tells investors in a research note.