Fortive price target lowered to $77 from $83 at RBC Capital

RBC Capital analyst Deane Dray lowered the firm’s price target on Fortive to $77 from $83 and keeps a Sector Perform rating on the shares. The company’s Q2 results were “in-line”, though a closer examination of the operating businesses revealed several soft spots, including Tektronix and EA, as well as a worsening performance in China, the analyst tells investors in a research note.