Fortive price target lowered to $55 from $72 at Wells Fargo

Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Fortive (FTV) to $55 from $72 and keeps an Equal Weight rating on the shares. In a sector preview note, the firm says that in general, it expects reiterated organic revenue growth guidance and raises to the low end of EPS ranges. Uncertainty remains high, likely discouraging the release of any conservatism in revenue growth guidance. Company commentary throughout the quarter largely messaged intact demand trends, Wells adds. If there are not a lot of changes, the firm thinks the setup favors winners through the post-Liberation Day rally.