Wells Fargo is lowering its valuation range for Illinois Tool Works (ITW +3.7%) to $52-$54 from...

|About: Illinois Tool Works Inc. (ITW)|By:, SA News Editor

Wells Fargo is lowering its valuation range for Illinois Tool Works (ITW +3.7%) to $52-$54 from $62-64, believing the machine tool maker is vulnerable to North America and Europe's macro problems. Nontheless, Wells Fargo is reiterating an Outperform, touting ITW's valuation and long-term earnings growth potential.