Fortive Corp
FTV: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$66.00 | Mshnn | Mlcrmscg |
Fortive Delivers Solid Second-Quarter Results and Raises Full-Year 2022 Outlook
We are maintaining our $85 fair value estimate for narrow-moat-rated Fortive as nothing in its second-quarter earnings release fundamentally alters our long-term outlook for the company. Fortive overcame supply chain constraints, COVID-19-related lockdowns in China, and foreign exchange headwinds to deliver solid results, with second-quarter adjusted EPS up 18% from the prior-year period. The stock is currently trading in 4-star territory, which we view as an attractive entry point.