Fortive price target raised to $79 from $78 at RBC Capital

RBC Capital raised the firm’s price target on Fortive (FTV) to $79 from $78 and keeps a Sector Perform rating on the shares ahead of its Investor Day presentation discussion the Ralliant spin. For New-Fortive, the firm expects a portfolio review across workflow management software and healthcare businesses, spotlighting its high earnings visibility with above-50% recurring revenues, the analyst tells investors in a research note.