B of A Securities Downgrades Illinois Tool Works to Underperform, Lowers Price Target to $235
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Andrew Obin has downgraded Illinois Tool Works (ITW) from Neutral to Underperform and reduced the price target from $260 to $235.
January 10, 2024 | 3:45 pm
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Illinois Tool Works was downgraded by B of A Securities from Neutral to Underperform, with a price target decrease from $260 to $235.
Downgrades by analysts can lead to a negative perception among investors and potentially cause a short-term decline in the stock's price. The reduction in the price target further suggests a bearish outlook on the stock's value, which may influence investor sentiment and stock performance.
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IMPORTANCE 90
RELEVANCE 100