Barclays Maintains an 'Equalweight' on Illinois Tool Works (ITW); Q2 Model Update
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Price: $71.00 +0.31%
Rating Summary:
7 Buy, 7 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
Rating Summary:
7 Buy, 7 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
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Barclays maintains an 'Equalweight' on Illinois Tool Works (NYSE: ITW) price target from $56 to $61.00.
Analyst, Andy Kalpowitz, said, "ITW reported a generally solid 1Q12, which we think is largely reflective of good execution in spite of some mixed end markets and highlights the potential in ITW's diverse business model. Although there were some puts and takes in ITW's 1Q12 results, including base and total revenue growth below our expectations offset by better-than-expected margins in most businesses, we think that the good North American growth seen in 1Q12 could continue to sustain results despite slower growth expectations overseas. We were also intrigued to see ITW highlight its strategic initiatives of siness simplification, strategic sourcing and portfolio management."
Barclays raises FY12 EPS estimates from $4.15 to $4.25 and FY13 from $4.65 tto $4.70.
For an analyst ratings summary and ratings history on Illinois Tool Works click here. For more ratings news on Illinois Tool Works click here.
Shares of Illinois Tool Works closed at $56.68 yesterday, with a 52 week range of $39.12-$59.27.
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Analyst, Andy Kalpowitz, said, "ITW reported a generally solid 1Q12, which we think is largely reflective of good execution in spite of some mixed end markets and highlights the potential in ITW's diverse business model. Although there were some puts and takes in ITW's 1Q12 results, including base and total revenue growth below our expectations offset by better-than-expected margins in most businesses, we think that the good North American growth seen in 1Q12 could continue to sustain results despite slower growth expectations overseas. We were also intrigued to see ITW highlight its strategic initiatives of siness simplification, strategic sourcing and portfolio management."
Barclays raises FY12 EPS estimates from $4.15 to $4.25 and FY13 from $4.65 tto $4.70.
For an analyst ratings summary and ratings history on Illinois Tool Works click here. For more ratings news on Illinois Tool Works click here.
Shares of Illinois Tool Works closed at $56.68 yesterday, with a 52 week range of $39.12-$59.27.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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