Barclays Raises Illinois Tool Works (ITW) Price Target, Sees “Some Encouragement” in Outlook

NodeGuardian · 2026-02-23T13:16:35+00:00

Barclays analyst Julian Mitchell raised the price target for Illinois Tool Works to $275 but maintained an Underweight rating due to mixed outlook signals, despite strong fourth-quarter earnings exceeding expectations.

NodeGuardian

2026-02-23 13:16:35

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Barclays analyst Julian Mitchell increased his price target for Illinois Tool Works (ITW) to $275 from $244, maintaining an Underweight rating despite seeing “some encouragement” in the company’s outlook. This follows Illinois Tool Works’ strong fourth-quarter results, which exceeded Wall Street expectations with earnings of $2.72 per share and $4.09 billion in revenue, driven by steady automotive demand and tariff mitigation efforts. However, the company’s 2026 EPS forecast midpoint of $11-$11.40 is slightly below current analyst estimates.

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