Market Overview

Morgan Stanley Maintains Equal-Weight Rating on Illinois Tool Wors

According to Morgan Stanley, Illinois Tool Works (NYSE: ITW) Equal-Weight rating is maintained.

Morgan Stanley said that ITW announced that Relational Investors, an activist fund based in San Diego CA, has taken a 2.1% shareholding and acquired the right to appoint David Batchelder, Relational's principal and co-founder, to ITW's Board following its 2012 stockholder meeting. “We maintain our EW rating but highlight relatively attractive upside to our base case.”

Illinois Tool Works closed on Friday at $49.37.

Posted-In: Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

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