Fortive price target lowered to $70 from $75 at Wells Fargo

Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Fortive to $70 from $75 and keeps an Equal Weight rating on the shares. It’s plausible that Q3 fell victim to a collection of variances that went against Fortive, with better luck next quarter, the firm notes. It leaves near-term focus on stabilization of slowing markets and no indications of broadening headwinds, Wells says.