Truist cuts PT on Illinois Tool Works due to tariff concern
ReutersMay 1, 2025 3:35 PM
Truist Securities cuts price target on Illinois Tool Works ITW.N to $284 from $302, rating unchanged at "buy"
The new price target shows 18.4% upside to the stock's last close
Says overall demand was steady in Q1, however the impact on customer demand from tariffs remains unknown looking forward
"For 2025, auto builds and relevant markets are projected to be down mid-single digits"- Truist
Brokerage raises 2025 adj. EPS forecast to $10.30 from $10.20
Co's shares up 1% to $243 on Thursday's trading
ITW announced earnings on Wednesday
3 of 20 brokerages rate the stock "buy" or higher, 13 "hold" and 4 "sell" or lower; their median PT is $245
Including session moves, the shares are down 4% YTD
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