Fortive Corp

FTV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$55.00	Tcgxmpm	Qzvwvfwqy

Fortive Raises Lower End of Full-Year 2022 Outlook Following Solid First Quarter

Krzysztof Smalec

Apr 28, 2022

Considering COVID-19-related headwinds and ongoing supply chain disruptions, we think narrow-moat-rated Fortive delivered solid first-quarter results, featuring 5% core revenue growth and an 11% increase in adjusted EPS compared with the same period last year. We’ve trimmed our fair value estimate to $85 from $88, mostly due to slightly more conservative long-term growth assumptions, but continue to see Fortive as undervalued, with shares currently trading in 5-star territory.

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