UBS analyst Steven Fisher raised the firm’s price target on Illinois Tool Works to $245 from $213 and keeps a Neutral rating on the shares. ITW‘s Q4 results were strong, with revenues, organic growth, operating profit and margins all ahead of consensus estimates and overall strong end-market demand, but UBS remains cautious on the 12-month outlook, the analyst tells investors in a research note. UBS expects the stock to be range-bound.
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Read More on ITW:
- Illinois Tool Works price target raised to $223 from $174 at Morgan Stanley
- Illinois Tool Works price target raised to $183 from $170 at Deutsche Bank
- Illinois Tool Works price target raised to $255 from $222 at Baird
- ITW Reports Fourth Quarter and Full Year 2022 Results
- Illinois Tool Works sees FY23 EPS $9.40-$9.80, consensus $9.33