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ITW

Illinois Tool Works

$165.96

0.69 (0.42%)

06:14
01/04/18
01/04
06:14
01/04/18
06:14

Illinois Tool Works downgraded to Market Perform at BMO Capital on valuation

As reported earlier, BMO Capital analyst Joel Tiss downgraded Illinois Tool Works to Market Perform from Outperform with a price target of $180 on valuation, saying shares now trade at nearly 21-times his above-consensus 2019 EPS target. Tiss notes that the company has likely reached a tipping point for much better profitability and does not justify a premium, having outperformed most industrials with a 170% run-up in the stock price over the past five years.

  • 24

    Jan

ITW Illinois Tool Works
$165.96

0.69 (0.42%)

01/04/18
BMOC
01/04/18
DOWNGRADE
BMOC
Market Perform
Illinois Tool Works downgraded to Market Perform from Outperform at BMO Capital
12/11/17
12/11/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Square (SQ) initiated with a Market Perform on valuation at Cowen. 2. Illinois Tool Works (ITW) initiated with a Buy at BofA/Merrill. 3. SendGrid (SEND) was initiated with an Outperform at William Blair, an Overweight at Piper Jaffray, KeyBanc, and JPMorgan, a Buy at Stifel, as well as an Equal Weight at Morgan Stanley. 4. BWX Technologies (BWXT) initiated with a Market Perform at Wells Fargo. 5. Arsanis (ASNS) was initiated with an Overweight at Piper Jaffray, an Outperform at Cowen, and a Buy at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/11/17
BOFA
12/11/17
INITIATION
Target $190
BOFA
Buy
Illinois Tool Works initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Ross Gilardi initiated Illinois Tool Works with a Buy and $190 price target. The analyst expects annual revenue growth to accelerate to 3-5% from 2.5% in 2017 and flt in 2015-16 from its 80/20 strategy that drives resources to the most profitable customers. Gilardi expects 15-20% dividend growth and thinks Illinois Tool Works will be a large tax beneficiary from any tax reform.
12/06/17
BMOC
12/06/17
NO CHANGE
Target $180
BMOC
Outperform
Illinois Tool Works price target raised to $180 from $165 at BMO Capital
BMO Capital analyst Joel Tiss raised his price target on Illinois Tool Works to $180 following the company's investor day, saying he is more confident of the firm's resiliency and growth. Tiss says the management has assuaged concerns that the company is approaching a margin ceiling, adding that his expectations of "modest economic growth" makes this the best period to own Illinois Tool Works stock. The analyst keeps his Outperform rating, noting that the company's operating performance is "unmatched across the industrial landscape" and forecasting more appreciation due to its "cyclical resistance, excellent balance sheet, steady dividend hikes, and share repurchases".

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