Barrington Research Maintains Illinois Tool Works Outperform, $55 PT
Barrington Research maintains its Outperform rating and $55 price target on Illinois Tool Works (NYSE: ITW) in a research report published today.
In the report, Barrington Research writes, "We maintain our OUTPERFORM rating prior to ITW's Q4/11 earnings release. We believe that ITW should have a good 2012 due to continued internal execution of the company's strategic growth initiatives and the possibility that 2012 could be the first of a multi-year recovery for construction end markets. We believe that ITW has a strong management and should be able to support growth despite the global concern of slowing markets, especially in Europe. We expect ITW to report continued sales growth from segments like Transportation, Industrial Packaging and Power Systems."
Shares of Illinois Tool Works are currently trading at $53.16, up 0.74% from Friday's market close.
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