Melius Research analyst Scott Davis downgraded Fortive (FTV) to Hold from Buy with a $62 price target. The firm does not see a “differentiated” earnings growth outlook for Fortive following the spinoff of Ralliant (RAL). Fortive’s portfolio remains complex even after the breakup, and the industrial sector offers “plenty of growthier investment options,” the analyst tells investors in a research note. Melius sees a reasonable valuation at current share levels.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FTV: