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Fly News Breaks for January 14, 2019
ITW
Jan 14, 2019 | 09:41 EDT
Citi analyst Andrew Kaplowtiz downgraded Illinois Tool Works to Neutral from Buy with a $144 price target. The company's "overexposure" to "slowing" Europe is a risk, Kaplowtiz tells investors in a research note. However, the analyst says his downgrade is more reflective of the correlation between lower oil prices and shorter term capital spending trends in businesses such as Welding and Test & Measurement and Electronics. He expects these segments of Illinois Tool Works to decelerate in the coming quarters.
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