Wells Fargo Thinks Illinois Tool Works’ Stock is Going to Recover

By Austin Angelo

Wells Fargo analyst Andy Casey maintained a Buy rating on Illinois Tool Works (NYSE: ITW) yesterday. The company’s shares closed yesterday at $136.26, close to its 52-week low of $134.66.

According to TipRanks.com, Casey is a 3-star analyst with an average return of 5.9% and a 43.6% success rate. Casey covers the Industrial Goods sector, focusing on stocks such as Parker Hannifin, Kennametal, and Paccar Inc.

Illinois Tool Works has an analyst consensus of Moderate Buy, with a price target consensus of $159.13, implying a 16.8% upside from current levels. In a report issued on July 17, Jefferies also reiterated a Buy rating on the stock with a $175 price target.

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The company has a one-year high of $179.07 and a one-year low of $134.66. Currently, Illinois Tool Works has an average volume of 1.68M.

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Illinois Tool Works, Inc. manufactures industrial products and equipment. It operates through the following segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.