Ralliant initiated with a Neutral at Seaport Research

Seaport Research analyst Scott Graham initiated coverage of Ralliant (RAL) with a Neutral rating. Seaport favors the spin-off from parent Fortive (FTV), as the narrowed focus should improve sales and margin consistency and create value long-term, the analyst tells investors in a research note. The firm expects sales to decline and margins to remain weak in the near-term, amid pressures at Tek, the largest division, and views Ralliant as fairly valued.