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ITW

Illinois Tool Works

$130.31

(0.00%)

09:41
01/14/19
01/14
09:41
01/14/19
09:41

Citi downgrades Illinois Tool Works on Europe risk, lower oil prices

Citi analyst Andrew Kaplowtiz downgraded Illinois Tool Works to Neutral from Buy with a $144 price target. The company's "overexposure" to "slowing" Europe is a risk, Kaplowtiz tells investors in a research note. However, the analyst says his downgrade is more reflective of the correlation between lower oil prices and shorter term capital spending trends in businesses such as Welding and Test & Measurement and Electronics. He expects these segments of Illinois Tool Works to decelerate in the coming quarters.

  • 01

    Feb

ITW Illinois Tool Works
$130.31

(0.00%)

12/18/18
12/18/18
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Philip Morris (PM) downgraded to Underperform from Neutral at Credit Suisse with analyst Alan Erskine saying after conducting a survey of next-generation products users in Japan, the U.S. and the U.K., he believes slower progress in the take-up of heated tobacco products and weaker combustible organic growth will challenge the high-single-digit earnings growth models of Philip Morris and British American Tobacco (BTI). 2. Wabco (WBC) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Courtney Yakavonis saying she is losing conviction that Wabco can return to its "normal" margin and outgrowth framework in FY19, citing rolling global truck markets, recent underperformance in core outgrowth, and sustained margin risks as limiting factors to the previously premium multiple. 3. Kansas City Southern (KSU) and Schneider National (SNDR) were downgraded to Neutral from Overweight at JPMorgan. 4. Illinois Tool Works (ITW) and Flowserve (FLS) were downgraded to Underweight from Equal Weight at Morgan Stanley, while Hubbell (HUBB) was downgraded to Equal Weight from Overweight at Morgan Stanley. 5. Worldpay (WP) downgraded to Outperform from Top Pick at RBC Capital with analyst Daniel Perlin saying while the company trades in line with its peers on a relative price-to-earnings basis, its shares remain attractive given the "conservative" expectations for synergy targets. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/10/19
JPMS
01/10/19
DOWNGRADE
Target $120
JPMS
Underweight
Illinois Tool Works downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Ann Duignan downgraded Illinois Tool Works to Underweight and lowered her price target for the shares to $120 from $136.
01/10/19
JPMS
01/10/19
NO CHANGE
JPMS
JPMorgan changes ratings in Machinery ahead of Q4 earnings
JPMorgan analyst Ann Duignan says her U.S. Machinery coverage universe underperformed the broader market in 2018 as investors grew more concerned about the potential for a U.S. recession led by rising interest rates on top of a slowdown in international growth. As a result, the group looks "cheap" relative to the S&P 500 Index, Duignan tells investors in a research note. She also believes the selloff has been overdone for a number of stocks in her coverage. That said, the analyst thinks Eurozone growth is one of the biggest risks facing companies in space. As such, she suggests investors minimize exposure to companies with an outsized European Union mix. With this backdrop, Duignan upgraded both Oshkosh (OSK) and Trimble (TRMB) to Overweight from Neutral on valuation. She also downgraded Paccar (PCAR), Wabco (WBC) and Illinois Tool Works (ITW) to Underweight from Neutral given their exposure to Europe.
01/14/19
SBSH
01/14/19
DOWNGRADE
SBSH
Neutral
Illinois Tool Works downgraded to Neutral from Buy at Citi

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GWPH

GW Pharmaceuticals

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ENLC

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ENLC

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FDX

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ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

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MKL

Markel

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NILSY

Norilsk Nickel

$0.00

(0.00%)

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JNJ

Johnson & Johnson

$130.65

1.54 (1.19%)

, ABBV

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FOMX

Foamix

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-0.14 (-3.65%)

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