Fortive price target raised to $61 from $56 at Truist

Truist raised the firm’s price target on Fortive (FTV) to $61 from $56 and keeps a Hold rating on the shares. The company’s Q1 revenue topped estimates as it benefited from a 150 basis point tailwind from extra selling days relative to last year, the analyst tells investors in a research note. Gross margin of 63.2% declined 120 basis points, reflecting tariff costs, but adjusted operating margin increased 120 basis points thanks to operating leverage, structural cost savings, and FX, the firm added.