Wells Fargo raises Fortive PT ahead of Q3 results

Fortive

07/10/2024 16:15

** Wells Fargo raises PT on Fortive  FTV.N  to $82 from $75;
maintains "equal weight" rating
    ** New PT represents 6% upside to stock's last close
    ** Brokerage says spin-off announcement removes possibility
of significant M&A in the near term
    ** Post-spinoff FTV will likely be more focused on bolt-on
acquisitions, prioritizing "more focused and disciplined"
approach - brokerage
    ** Focus to be largely on co's outlook for Q4 and its
implications for 2025 growth - Wells Fargo
    ** 14 of 20 brokerages rate the stock "buy" or higher and 6
"hold"; median PT is $86.50 - LSEG data
    ** As of last close, FTV up 4.4% YTD

 (Reporting by Anshuman Tripathy in Bengaluru)
 ((Anshuman.Tripathy@thomsonreuters.com))