Jefferies Maintains a 'Buy' on Illinois Tool Works (ITW); 5-6% Organic Growth + Margin Improvement

Jefferies maintains a 'Buy' on Illinois Tool Works (NYSE: ITW) price target raised from $55 to $62.

Jefferies analyst says, "ITW reported 4Q11 EPS of $0.90 vs Jefferies and consensus estimate of $0.88. Sales and margins were in line with expectations, with the beat coming from a slightly lower tax rate. End market growth continues to moderate marginally, but we are increasing our EPS estimates on margin expansion resulting from favorable price/cost and continued improvements in operating efficiencies."

Jefferies raises FY12 EPS estimate from $4.10 to $4.15 and FY13 from $4.55 to $4.65.

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 $53.03 yesterday.

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