Fortive downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded Fortive (FTV) to Equal Weight from Overweight with a price target of $50, down from $90. The company’s organic growth has slowed to flat versus a mid-single-digit run-rate previously, the analyst tells investors in a research note. The firm says that with 40% of Fortive’s revenue tied to government and healthcare spend, the recovery pathway is unclear and “clouded” by U.S. policy uncertainty.