Melius starts Ralliant at Hold with return to growth seen later this year

As previously reported, Melius Research initiated coverage of Ralliant (RAL) with a Hold rating and $56 price target following the completion of its break-up from Fortive (FTV) on June 30. Cycle timing appears near trough with the majority of the portfolio now deep in recession, though history suggests a return to growth later this year and a more meaningful recovery in 2026, the analyst tells investors.