Illinois Tool Works price target raised to $292 from $281 at Credit Suisse

Credit Suisse analyst Jamie Cook raised the firm’s price target on Illinois Tool Works to $292 from $281 and keeps an Outperform rating on the shares. The firm notes the stock closed down 4% after beating Q2 consensus EPS of $2.39 by 9c or by 2c excluding favorable one-time tax items. Similar to Q1, 25% of Illinois Tool Works’ portfolio is starting to slow including housing construction, commercial welding, auto aftermarket, appliances and semis. However, Illinois Tool Works is seeing some signs on bottoming, the firm says.