FBR Capital Maintains an 'Outperform' on Illinois Tool Works (ITW); Surprisingly Strong 1Q; Full-Year Outlook Potentially Conservative

FBR Capital maintains an 'Outperform' on Illinois Tool Works (NYSE: ITW), PT increased by $2 to $67.

FBR analyst says, "We believe several of Illinois Tool Works’ capex-related businesses remain >25% below peak levels achieved last cycle. As capital spending in these late-cycle businesses rebounds, we see potential for earnings upside and are increasing our 2011–2012 EPS estimates from $3.85/$4.50 to $4.00/$4.65."

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 $57.73 yesterday.

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