These bullish firms note that ITW continues to perform well due to its recovering end market demand and generating strong cash flow with increased future growth potential. They believe ITW is benefiting from internal restructuring activities and expect higher-margin performance over the next few years. They expect ITW to continue on this path by enhancing its existing product lines with new and innovative offerings, maintaining its decentralized approach, applying the 80/20 (80% of the Company’s sales are derived from 20% of its product offering being sold to key customers) business process, and making new acquisitions. The large and fragmented nature of its end markets provides significant opportunity for product line and geographic expansion, which is the primary source for long-term growth. These firms continue to like the longer-term earnings growth prospects due to current internal margin improvement initiatives and incremental acquisition contribution that will drive above market growth.