Fortive price target lowered to $65 from $90 at Raymond James

Raymond James lowered the firm’s price target on Fortive (FTV) to $65 from $90 and keeps an Outperform rating on the shares. Fortive has officially completed the 100% spin of Ralliant (RAL), while also announcing that Q2 organic growth will be “flat to slightly down” due to tariff related pricing pressure and customer concerns regarding trade, healthcare, and government spending policy, the analyst tells investors in a research note. The firm is “pleased” to see the completed spin, and the resetting of the topline expectations lowers the Q2 bar heading into earnings season.