Illinois Tool Works Added to Citi's “Top Picks Live” (ITW) - Illinois Tool Works (NYSE:ITW)

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Citigroup is out with a research report this morning, where it adds Illinois Tool Works Inc. (NYSE: ITW) to its “Top Picks Live” list; it has a $52.00 price target on the stock. The Citi analysts said that ITW is its favorite large-cap idea in the Multi-Industry & Electrical Equipment sector; Citi recently met with management. They noted, “The combination of solid August base revenue growth, improving housing data, a refilling M&A pipeline, and attractive relative valuation drives our Top Pick recommendation for ITW. Upbeat investor meetings underscore the breadth of the industrial recovery and reinforced our positive view on this name.”The bottom line is that ITW is well positioned with 87% of sales in early- and mid-cycle markets, the highest percentage in the sector.

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