Filtration has been a popular niche within industrial and life science markets, and it's not hard to see why. Once a system is in place, the vendor can usually look forward to years of lucrative disposables/consumables sales and customers are disinclined to risk their reputations or systems (to say nothing of downtime) just to save a few bucks on a competing platform.
All of that speaks to why Pall (PLL) should be a popular stock. Certainly the company has a great array of businesses, with relatively dependable markets like biopharmaceuticals and healthcare offsetting more volatile and cyclical industries like microelectronics and aerospace. That all being said, there's a fair value for every asset and Pall is going to have to deliver remarkable performance to live up to its present valuation.
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Pall Has The Quality, But Valuation Is A Stretch
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