Fortive downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Julian Mitchell downgraded Fortive (FTV) to Equal Weight from Overweight with a price target of $54, down from $58. The company’s guidance update suggested a very tough second half of the year ramp is needed in order to hit the mid-point of the range, the analyst tells investors in a research note. The firm sees nothing in peer reports since Fortive’s results that indicate its guidance is more achievable.