Jefferies Starts Illinois Tool Works (ITW) at Buy, Price Target $60
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Price: $70.78 +1.24%
Rating Summary:
7 Buy, 7 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
7 Buy, 7 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ITW Now!
Jefferies initiates coverage on Illinois Tool Works (NYSE: ITW) with a Buy rating and a price target of $60. The firm also set EPS and revenue estimates for FY11,12,13 of $3.70/$17.8B, $4.35/$19.7B, and $5.10/$21.6B.
The firm reported that, "ITW is a high-quality diversified industrial company, with mid-teen operating margins and ROIC with relatively low earnings volatility versus its peer group. We believe margins and returns will improve and that acquisitions will again be a growth driver as the economy recovers."
For more ratings news on Illinois Tool Works click here and for the rating history of Illinois Tool Works click here.
Shares of Illinois Tool Works closed at $47.40 yesterday, with a 52 week range of $40.33-$52.72.
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The firm reported that, "ITW is a high-quality diversified industrial company, with mid-teen operating margins and ROIC with relatively low earnings volatility versus its peer group. We believe margins and returns will improve and that acquisitions will again be a growth driver as the economy recovers."
For more ratings news on Illinois Tool Works click here and for the rating history of Illinois Tool Works click here.
Shares of Illinois Tool Works closed at $47.40 yesterday, with a 52 week range of $40.33-$52.72.
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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