I can appreciate scarcity value, and I can appreciate the appeal of a
company that enjoys strong share in a large, fragmented market and has
only recently returned to sounder operating and management policies.
Even so, it's hard for me to get comfortable with the valuation on Manitowoc Foodservice (NYSE:MFS).
While I definitely think its "right-sizing" and margin improvement
efforts will pay off, I think the company's business mix and the
underlying growth potential of the foodservice industry are limiting
factors.
Read more here:
Without Major Improvements, Manitowoc Foodservice Looks A Little Overcooked
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