RBC Capital lowered the firm’s price target on Fortive (FTV) to $75 from $79 and keeps a Sector Perform rating on the shares after the company hosted Analyst Meetings for its New-Fortive and its pureplay SpinCo Ralliant entities. Medium-term targets for both companies appear mostly reasonable and achievable, with a goal to establish a cadence of “under-promise/over-deliver” for the new management teams, though investors could have a bit of “show-me” for Ralliant given its recent operating choppiness, the analyst tells investors in a research note.
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