Fortive price target lowered to $98 from $101 at Citi

Citi analyst Andrew Kaplowitz lowered the firm’s price target on Fortive to $98 from $101 and keeps a Buy rating on the shares. The analyst views the post-earnings selloff as a “modest over-reaction.” Despite somewhat of a “lower quality” Q1 beat and slightly softer Q2 guidance, Fortive demonstrated good execution and has enduring growth potential, the analyst tells investors in a research note. Citi remains a buyer of the stock.