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Fortive (FTV) Receives a Buy from Berenberg Bank

In a report issued on February 10, Berenberg Bank from Berenberg Bank maintained a Buy rating on Fortive (FTVResearch Report), with a price target of $90.00. The company’s shares closed last Friday at $65.26, close to its 52-week low of $63.04.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fortive with a $83.27 average price target, implying a 26.6% upside from current levels. In a report issued on February 4, Citigroup also maintained a Buy rating on the stock with a $91.00 price target.

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Based on Fortive’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.37 billion and net profit of $165 million. In comparison, last year the company earned revenue of $1.32 billion and had a net profit of $1.22 billion.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FTV in relation to earlier this year.

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Incorporated in 2015 and headquartered in Washington, Fortive Corp. is a diversified industrial growth company. The company is engaged in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the Professional Instrumentation and Industrial Technologies segments.

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