Illinois Tool Works price target raised to $259 from $258 at Stifel

Stifel raised the firm’s price target on Illinois Tool Works to $259 from $258 and keeps a Hold rating on the shares. In a Q1 preview for the diversified industrials group, the firm says it is “generally fairly neutral on stocks under our coverage” with an expectation that companies will be seeing improving demand fundamentals with improving short cycle and waning inventory destocking, offset by the strong performance of the stocks during the quarter. In general, the firm is expecting management commentary to be more positive on the second half, while maintaining a relatively cautious approach to guidance, the analyst tells investors in the preview.