On Nov 01, major Wall Street analysts update their ratings for $Fortive (FTV.US)$, with price targets ranging from $77 to $95.
Barclays analyst Julian Mitchell maintains with a buy rating, and adjusts the target price from $98 to $95.
Wells Fargo analyst Joe O'Dea maintains with a hold rating, and maintains the target price at $77.
Truist Financial analyst Jamie Cook maintains with a buy rating, and sets the target price at $89.
Seaport Global analyst Scott Graham maintains with a buy rating, and maintains the target price at $88.
Furthermore, according to the comprehensive report, the opinions of $Fortive (FTV.US)$'s main analysts recently are as follows:
Following the earnings report, there's an anticipation that the stock will exhibit improved performance leading into 2025, as the much-dreaded decline in Fluke / IOS has now transpired, thereby setting the stage for potential recovery.
Fortive's third-quarter results were impacted by an earnings miss attributed to IOS weaknesses. Additional factors such as postponed government spending and a general downturn in China also contributed to a lowered forecast for 2024 organic sales. Following a year dedicated to spin-off preparations and a pause in mergers and acquisitions, Fortive appears to be in a temporary 'deal-limbo', weighing the balance of risk and reward.
The observation is that Fortive's AHS performed well in the recent quarter; however, shortcomings in IOS and PT organic following a reiterated outlook in early September have had a negative impact on the stock. Although the shares are considered undervalued, the third-quarter shortfall may not alleviate the prevailing uncertainty related to the anticipated spin-off.
Here are the latest investment ratings and price targets for $Fortive (FTV.US)$ from 4 analysts:
Note:
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