Mumemories/iStock via Getty Images
- Illinois Tool Works (NYSE:ITW) on Thursday was rated as a “catalyst call” Sell by analysts at Deutsche Bank. They said the maker of fasteners and components is at risk of continued underperformance during the upcoming earnings season.
- Illinois Tool’s (ITW) guidance of 1%-3% organic growth for the year “looks challenging” following a decline in the first quarter and recent data about automotive production, according to Deutsche Bank.
- The bank estimates that Illinois Tool (ITW) will report earnings of $10.22 a share for 2024, which is less than management’s guidance of $10.30 to $10.70 a share.
- Illinois Tool (ITW) trades at a 3% premium to peers, and Deutsche Bank says a discount is warranted.
- Shares of Illinois Tool (ITW) were little changed on Thursday, in line with the Standard & Poor’s 500 stock index (SP500).