BUZZ-BofA lifts Illinois Tool Works' rating on positive profit forecast in 2026

Reuters11-20
BUZZ-BofA lifts Illinois Tool Works' rating on positive profit forecast in 2026

** BofA upgrades rating on automotive and industrial supplier Illinois Tool Works ITW.N to "neutral" from "underperform"

** "We expect year-on-year margin expansion to be strong in 2026, driving more stable EPS growth in '26/'27." - BofA

** Brokerage expects ITW’s organic sales growth in 2026 to drive profit margin expansion, helped by co’s fixed-cost structure that enables operating leverage as sales rise

** Raises price target to $255 from $220, representing an upside of 5.4% from stock's last close

** Two of 19 brokerages rate the stock "buy" or higher, 12 "hold" and five "sell" or lower; their median PT is $260 - data compiled by LSEG

** Including session's moves, shares down 4.9% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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