Illinois Tool Work (ITW) Organic Growth Driving Expectations Higher, Price Target Raised
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Price: $248.16 --0%
Rating Summary:
4 Buy, 15 Hold, 7 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 16 | Down: 17 | New: 5
Rating Summary:
4 Buy, 15 Hold, 7 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 16 | Down: 17 | New: 5
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Jefferies raised estimates and its price target on Illinois Tool Works (NYSE: ITW) from $65 to $70, following strong Q1 results
The firm states, "ITW reported 1Q11 EPS of $0.91 vs consensus of $0.87. Better than expected sales and solid margins drove the beat in the quarter. Organic growth was higher than expected and the company's 2011 outlook has been increased for both revenues and EPS."
The firm raised FY11 EPS from $3.80 to $4.00 and FY12 from $4.50 to $4.75.
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.
The firm states, "ITW reported 1Q11 EPS of $0.91 vs consensus of $0.87. Better than expected sales and solid margins drove the beat in the quarter. Organic growth was higher than expected and the company's 2011 outlook has been increased for both revenues and EPS."
The firm raised FY11 EPS from $3.80 to $4.00 and FY12 from $4.50 to $4.75.
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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