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Illinois Tool Works, 'The Gold Standard,' Initiated With A Buy At BofA

Illinois Tool Works Inc. ITW hosted its 2017 investors day Dec. 1 and projected 8-10 percent earnings per share growth each year.

The Analyst

Bank of America Merrill Lynch's Ross Gilardi initiated  coverage of Illinois Tool Works with a Buy and $190 price target. 

The Thesis

The price target is based on 24.5 times 2019 price-to-earnings, implying a 2-percent dividend yield, Gilardi said.  Source

Some consolidation is possible. 

$ITW, Illinois Tool Works Inc. / D