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ITW - Illinois Tool Works Inc News Story

$238.28 1.2  0.5%

Last Trade - 07/05/21

Large Cap
Market Cap £54.01bn
Enterprise Value £57.92bn
Revenue £9.23bn
Position in Universe 170th / 6858

BUZZ-Credit Suisse sees solid growth for U.S. machinery firms in 2021

Tue 12th January, 2021 11:10am
** Credit Suisse says the U.S. machinery group is poised for
solid growth across multiple end markets in 2021
    ** "As we enter 2021, visibility is strongest in North
America Truck and large Farm equipment now extended through at
least the first quarter and early summer" - CS
    ** Brokerage says Deere  DE.N  and Caterpillar  CAT.N  are
its top large-cap picks
    ** "CAT is the best play on global macro improving helped by
potential for stimulus/infrastructure," CS says, adding,
recovery of NA Construction is a significant driver of the stock
    ** CS says DE has a strong balance sheet and also sees
margin upside in FY 2021
    ** Brokerage upgrades Illinois Tool Works Inc  ITW.N  and
Oshkosh Corp  OSK.N  to "outperform" from "neutral" and
downgrades Gates Industrial Corporation  GTES.N  to "neutral"
from "outperform"
    ** CS also revises PTs for the following companies:    
 Company                             Current PT   Prior PT
 Agco Corp                           $114         $89
 Allison Transmission Holdings Inc   $55          $50
 Caterpillar Inc                     $228         $179
 Cummins Inc                         $277         $273
 Deere & Co                          $343         $305
 Forterra Inc                        $23          $22
 Gates Industrial Corporation PLC    $15          $13
 Illinois Tool Works Inc             $235         $209
 Manitowoc Company Inc               $16          $10
 Oshkosh Corp                        $117         $83
 Paccar Inc                          $94          $89.27
 Parker-Hannifin Corp                $331         $264
 Rush Enterprises Inc                $46          $38
 Terex Corp                          $39          $24

 (Reporting By Geetha Panchaksharam)
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