2022年12月27日

晨星公司按“护城河”对公司进行排名，这意味着它们比竞争对手更有优势。今年到目前为止，标准普尔500指数已经下跌了19%，你可能会在股市上寻找一些便宜货。晨星公司(Morningstar)列出了各行各业最值得拥有的股票。这一次，我们将重点关注工业领域。那么晨星公司是如何定义“最佳股票”的呢?它是拥有宽阔护城河的公司，这意味着相对于竞争对手具有强大而可持续的优势。晨星公司表示:“我们相信，在未来20年或更长时间里，它们的回报将超过成本。”“他们的竞争优势也在稳定或增强，这增加了我们对他们长期增长的信心。”环境-社会治理因素也发挥作用。晨星公司表示:“最好的公司拥有能够有效应对不断变化的ESG问题的商业模式，这些问题可能会对他们的业务产生重大影响。” Other metrics are involved, too. “The companies that make our list have predictable cash flows, so our analysts can more accurately estimate how much the businesses are worth,” Morningstar said. “These companies also make smart decisions about how they manage and invest their money.” Industrial Companies’ Strength When it comes to industrial stocks, many of the companies Morningstar chose “benefit from their incumbent position in their industries,” the firm said. “It allows these businesses to develop brands and patents that give them their edge. Many further benefit from a cost advantage, operating in industries where infrastructure or regulation limitations make it expensive for new competitors to enter the market.” Morningstar doesn’t recommend that you buy all these stocks now. About half the ones that made its overall list recently traded above the firm’s fair-value estimates. Here are 10 industrial stocks cited by Morningstar that recently traded beneath Morningstar’s fair value. They are listed in descending order of market capitalization. Rentokil Initial ( RTOKY ) , a pest-control provider Honeywell: Morningstar analyst Joshua Aguilar puts fair value for the stock at $235. about 9% above recent trades at $215. “Honeywell is one of the strongest multi-industry firms in operation today,” he wrote in a commentary. That stems largely from “increased demand for warehouse automation solutions and new digital offerings that promote data analytics in powerplants, remote security management and energy savings in building solutions.” Raytheon: Morningstar analyst Nicholas Owens puts fair value for the stock at $106. It recently traded at $100. He raised the estimate from $96 in November to “reflect the firm's steady progress toward ambitious post-[United Technologies] merger goals, notwithstanding its share of widespread supply chain troubles.” Owens cited “in particular the firm's fairly aggressive delevering of its balance sheet and promising signs of increased after-market revenue .” The author of this story owns shares of Honeywell. By