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Fly News Breaks for July 29, 2019
ITW
Jul 29, 2019 | 08:10 EDT
Credit Suisse analyst Jamie Cook raised his price target for Illinois Tool Works to $152 from $124 despite the company missing EPS estimates for the quarter and lowering the full-year guide for organic growth given a deceleration of demand across the portfolio. The analyst notes that Illinois Tool Works continues to post "strong decremental margins," and looks to see how it will perform in the back half of the year given identified tailwinds versus the first half. Cook reiterates a Neutral rating on the shares.
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