Fortive price target raised to $85 from $79 at Wells Fargo

Wells Fargo analyst Joseph O’Dea raised the firm’s price target on Fortive to $85 from $79 and keeps an Equal Weight rating on the shares. After a collection of variances caused Q3 revenue to come in below expectations, Q4 delivered solid results, the firm notes. Initial 2024 adjusted EPS guidance came in ahead of Wells’ expectations, driven by margin strength.