Vontier initiated with a Neutral at Credit Suisse

Credit Suisse analyst Guy Hardwick initiated coverage of Vontier with a Neutral rating and $21 price target. The industrial technology company that provides tools, equipment, and software/services for the manufacturing, repair, and servicing of mobility infrastructure is unlikely to receive a peer group multiple until it accelerates the process of reducing its exposure to internal combustion engine, or ICE, markets, Hardwick tells investors.