Fortive falls after Morgan Stanley downgrades to 'equal weight'

Fortive

02/09/2025 15:10

** Shares of industrial equipment maker Fortive Corp FTV.N down 1.4% at $47 after Morgan Stanley trims rating to "equal-weight" from "overweight"

** "With about 40% of company revenue tied to Government + Healthcare spend, the recovery pathway is unclear & clouded by U.S. policy uncertainty" - brokerage

** Cuts PT to $50 from $90, still implying a 4.5% upside to stock's last close

** "While we are cautious on topline, we think EPS will be protected by conservative margin forecasts" - brokerage

** Median PT of 20 brokerages covering the stock is $56 - LSEG data

** As of last close, stock down 15.3% YTD

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))