Fortive (FTV – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Christopher Snyder from Morgan Stanley maintained a Buy rating on the stock and has a $90.00 price target.
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Christopher Snyder has given his Buy rating due to a combination of factors that highlight Fortive’s strong position in the market. The company is trading at a discount compared to its peers, despite demonstrating superior operational durability with a high gross margin, substantial recurring revenue, and significant free cash flow conversion. These financial metrics suggest that Fortive is undervalued relative to its industrial peers, which supports the Buy recommendation.
Additionally, Snyder is optimistic about Fortive’s future prospects following the recent Investor Day. The company’s diverse portfolio and strategic focus on research and development are seen as competitive advantages, positioning Fortive to maintain and potentially expand its market share across various business lines. The market’s current expectations are well-aligned, providing an opportunity for positive revisions as Fortive continues to execute its strategy effectively.
In another report released today, Barclays also maintained a Buy rating on the stock with a $86.00 price target.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FTV in relation to earlier this year.