Top Analyst Downgrades for Thursday: Illinois Tool Works, Acadia Healthcare, eBay, and More

Analysts have downgraded several stocks, including Illinois Tool Works (ITW) from Equal-Weight to Underweight, Coherent Corp. (COHR) from Buy to Neutral, Acadia Healthcare Company (ACHC) from Strong Buy to Outperform, and eBay Inc. (EBAY) from Buy to Hold. The price target for ITW has been maintained at $243, while COHR's target has been raised to $105. ACHC's target has been lowered to $26.

Analysts have made significant changes to their ratings and price targets for several prominent companies. Illinois Tool Works (ITW), Coherent Corp. (COHR), Acadia Healthcare Company (ACHC), and eBay Inc. (EBAY) have all seen their stock ratings adjusted by various investment banks.

Illinois Tool Works (ITW)
Barclays downgraded Illinois Tool Works from Equal-Weight to Underweight, setting a price target of $243.00. The industrial giant, valued at $77.92 billion, is expected to have a modest revenue growth forecast of 1% for fiscal year 2025. Despite its 29-year track record of consecutive dividend increases, the expected recovery in organic sales is seen as already factored into investor expectations, limiting potential upside. Even with a sales recovery, ITW is expected to lag behind the manufacturing industry average in organic growth next year [1].

Coherent Corp. (COHR)
Coherent Corp. saw its stock downgraded from Buy to Neutral by Bank of America Securities, with a price target raised to $105. The company announced it would sell its aerospace and defense unit to Advent for $400 million, planning to use the proceeds to reduce debt. While quarterly earnings of $1 per share beat estimates, the company faces a $170 million fiscal 2026 revenue headwind from the sale. JPMorgan reiterated an Overweight rating on the stock, with a price forecast of $127, expecting Coherent's datacom growth to accelerate and gross margins to improve through debt reduction [2].

Acadia Healthcare Company (ACHC)
Acadia Healthcare Company was downgraded from Strong Buy to Outperform by an unknown analyst. The price target for ACHC was lowered to $26. While details on the specific downgrade are not provided, the company has faced challenges in the healthcare sector, and analysts may be adjusting their expectations accordingly.

eBay Inc. (EBAY)
eBay Inc. saw its stock rating change from Buy to Hold by Truist Securities, citing valuation concerns despite acknowledging the company’s improved financial performance. Susquehanna analyst Shyam Patil raised the price target on eBay to $95, maintaining a Neutral rating. eBay reported strong Q2 2025 earnings, with revenue of $2.7 billion and GMV of $19.5 billion, up 6% and 4% respectively compared to the previous year. The company expects FX-neutral year-over-year growth for both revenue and GMV to be between 3% and 5% for Q3 [3].

These changes highlight the varying expectations and outlooks among analysts for these companies. Investors should carefully consider these adjustments and their potential impacts on their portfolios.

References:
[1] https://www.investing.com/news/analyst-ratings/illinois-tool-works-stock-downgraded-by-barclays-on-limited-upside-93CH-4190926
[2] https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/08/47132973/whats-going-on-with-coherent-stock-on-thursday
[3] https://finance.yahoo.com/news/susquehanna-raises-ebay-ebay-pt-191214615.html