Fortive price target lowered to $85 from $90 at Citi

Citi analyst Andrew Kaplowitz lowered the firm’s price target on Fortive to $85 from $90 and keeps a Buy rating on the shares. With good profitability and cash generation in the quarter overshadowed by weaker Q3 organic growth and a lowered Q4 organic growth outlook, Fortive could be somewhat of a “show-me story” in the near-term as investors focus on the potential for incremental macro choppiness to weigh on growth potential as well as whether recent healthcare related challenges subside, the analyst tells investors in a research note.