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UPDATE: Bank of America Upgrades Illinois Tool Works to Buy

According to Bank of America, Illinois Tool Works (NYSE: ITW) is upgraded to Buy.

Bank of America said that it is upgrading ITW to Buy from Underperform. “We are raising our P.O. to $64 – driven by assumed valuation multiple expansion as investors increasingly view ITW's cost saving potential and business mix more favorably.”

Illinois Tool Works closed yesterday at $52.80.

Posted-In: Bank of AmericaAnalyst Color Upgrades Analyst Ratings

 

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