Fortive price target lowered to $83 from $93 at RBC Capital

RBC Capital lowered the firm’s price target on Fortive to $83 from $93 and keeps a Sector Perform rating on the shares. The company reported a modest Q1 operating earnings beat, but its organic growth rate declined amid normalizing demand at Tektronix and sensing technologies, the analyst tells investors in a research note. RBC adds that it sees risk-reward on the stock as “balanced”.