Fortive Corp
FTV: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$98.00 | Sxzwty | Fjwkmmkv |
Fortive Earnings: Software and Hardware Products Drive 9% Core Growth Despite Healthcare Headwinds
Narrow-moat-rated Fortive started 2023 with a strong first quarter, as its revenue of $1,461 million came in above our $1,421 million estimate. While nothing in Fortive’s earnings release materially alters our long-term outlook, we’ve bumped our fair value estimate up to $86 from $85 due to time value of money. We continue to view the name as modestly undervalued, with the stock currently trading in 4-star territory.