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Morgan Stanley Reiterates Underweight Rating, $60 PT on Illinois Tool Works

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In a report published Monday, Morgan Stanley reiterated its Underweight rating and $60.00 price target on Illinois Tool Works (NYSE: ITW).

Morgan Stanley noted, “In our view, ITW is taking exactly the right course of action, but we continue to believe the stock will not sustain a premium multiple, until there is clear evidence it can generate superior core growth and operating leverage – a 2014 story, at the earliest, in our view. Remain UW.”

Illinois Tool Works closed on Friday at $59.82.

Latest Ratings for ITW

DateFirmActionFromTo
Jun 2016BairdDowngradesOutperformNeutral
Apr 2016Morgan StanleyMaintainsEqual-weight
Apr 2016Argus ResearchMaintainsBuy

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