I remain upbeat about the shares of Snap-on Incorporated, a US-based manufacturer of tools and equipment for automotive service industry and other industrial users. The company continues to progress with its initiatives meant for coherent growth such as vehicle repair garage expansions, enhancement of franchise network and spreading footprints across critical industries as well as emerging markets. For these initiatives, Snap-on expects to incur capital expenditure in a range of $80-90 mn in 2016. Besides, the company continues to make relentless efforts toward improving its operating efficiency through Snap-on Value Creation Processes that are driving huge improvement in standards of safety, quality and customer connection. Snap-on’s fourth-quarter 2015 financials were solid, with organic revenue growth, excluding acquisition-related expenses and foreign currency translation effects, of 7.3% y-o-y. Operating margin expanded 220 basis points to 19.1% on the back of lower raw materials prices and cost-cutting measures, and adjusted earnings per share jumped 12.7% to $2.22, topping consensus estimate of $2.16. A quarterly dividend was 61 cents per share, which offers a healthy annualized dividend yield of 1.5%. On April 21, Snap-on plans to report its first-quarter 2016 results. We believe the company to continue its successful earnings streak showing its capabilities to suitably leverage market opportunities for maximizing growth. Recently, shares of Snap-on surpassed the $160 resistance level. I expect the stock to continue to go up, with medium-term target at $180. $SNA, Snap-On Incorporated / 1440