Wednesday, January 31, 2018

Danaher Back On Track To Start 2018

It can get a little ugly when darlings lose their luster, and Danaher (DHR) took some dings in 2017, leading to underperformance relative to other multi-industrials like Fortive (FTV), Honeywell (HON), 3M (MMM), and Illinois Tool Works (ITW). Considering the last couple of quarters, though, it looks as though Danaher is back on better operational footing and that 2018 will be a more "Danaher-like" year.

Given that Danaher spun off most of its industrial exposure, I still see the risk that Danaher will underperform some of those aforementioned peers for a little longer, as industrial recoveries spur greater growth. Longer term, though, I'm not really concerned. Like Honeywell, I can't really say that Danaher is "cheap", but it does appear to be less expensive than most of its peers and something of a relative bargain.

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Danaher Back On Track To Start 2018

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