Fortive price target raised to $95 from $87 at JPMorgan

JPMorgan raised the firm’s price target on Fortive to $95 from $87 and keeps an Overweight rating on the shares. The analyst increased price targets in the multi-industry group following the Q4 reports. The environment remains divergent, dominated by strong demand from data center, grid, energy to a degree, and U.S. mega projects, and non-residential construction “defying the bears and still growing,” with other markets in total continuing to show negative volumes, the analyst tells investors in a research note. The firm says that while destocking pressures remain, most believe they are close to the end of this process.