Deutsche Bank reiterated a Buy rating on Illinois Tool Works Inc. ITW and a $102 price target. Analyst John G. Inch believed "ITW is on a path to possibly become the next "3M" of the multi-industry space." Inch noted, "For years, similar to ITW, we believe 3M MMM was perceived to be challenged by slow growth, high margins and a general unwillingness to shake up the portfolio. Since new management assumed control of 3M in early 2012, the company has implemented actions to improve returns while stepping up share repurchase. 3M's shares have since outperformed multi-industry." "We view both 3M and ITW to be relatively comparable on a number of dimensions, including operational success and brand management. ITW's implementation of its Enterprise Initiatives appears to have profoundly and positively changed the organization in terms of streamlining operations, boosting profitability and stepping-up cash returned to shareholder," according to Inch.