Illinois Tool Works price target raised to $250 from $240 at Baird

Baird raised the firm’s price target on Illinois Tool Works (ITW) to $250 from $240 and keeps a Neutral rating on the shares. The quarter was operationally in line, with other items driving upside versus consensus and the revised guidance, the analyst tells investors in a research note. The firm also notes that, overall, business continues to lack momentum with most segments down organically and operating income 1.7% lower year-over-year. Core growth and/or M&A need to reaccelerate to justify stock upside from current levels, the analyst adds.