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UPDATE: BMO Capital Markets Downgrades Illinois Tool Works to Market Perform

Related ITW
Illinois Tool Works Has Raised Its Dividend For 50 Straight Years
Earnings Scheduled For October 20, 2016

BMO Capital Markets downgraded Illinois Tool Works (NYSE: ITW) from Outperform to Market Perform and raised the price target from $66.00 to $67.00.

BMO Capital Markets commented, "We are cutting our rating on ITW shares to Market Perform from Outperform because the shares have advanced strongly over the past year as investors have anticipated and embraced the new strategy. However, with the stock now in the mid/low $60s, and as we are trying to take a longer term view, we do not see the same sort of annual appreciation potential as we have when recommending the stock previously."

Illinois Tool Works closed at $64.41 on Tuesday.

Latest Ratings for ITW

Oct 2016JefferiesMaintainsBuy
Jul 2016UBSMaintainsNeutral
Jul 2016Deutsche BankMaintainsBuy

View More Analyst Ratings for ITW
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Downgrades Analyst Ratings


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