As short-cycle industrial end-markets weaken further, Danaher’s (DHR) exposure to acyclical growth markets like life sciences and diagnostics looks better and better. A decent top-line beat and acceleration in those two segments certainly helps bolster the argument for Danaher as a company and a stock that has much less to worry about as the global economy slows, and margin growth across most of the business certainly doesn’t hurt either.
This is the broken record part of the show, but valuation remains the prime issue with Danaher. I have no doubt that I’ll