Near-Term Market Issues Open A Window Of Opportunity At ITT

Good stocks don’t tend to get, or stay, very cheap for very long, and while there are still some meaningful short-term risks for ITT (ITT), the recent declines look like an opportunity to consider. Not only does ITT serve some attractive long-term process markets, but the opportunities to gain share in automotive friction are still significant, and there are some appealing margin improvement drivers that management is working on now.

I don’t know whether Monday’s sell-off on coronavirus fears will continue, or whether this is a long-awaited correction in what I’ve seen as frothy multi-industrial valuations, but with ITT’s prospective annualized return now above 10%, I see enough upside to take a more bullish position on these shares.

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Near-Term Market Issues Open A Window Of Opportunity At ITT