Fortive Corp

FTV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$83.00	Yyfqm	Vknytmngx

Fortive Delivers Solid Second-Quarter Results and Raises Full-Year 2022 Outlook

Krzysztof Smalec

Jul 29, 2022

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.

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