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Truist Financial Maintains Fortive(FTV.US) With Buy Rating, Announces Target Price $89

Futu News ·  Nov 2 17:31  · Ratings

Truist Financial analyst Jamie Cook maintains $Fortive (FTV.US)$ with a buy rating, and sets the target price at $89.

According to TipRanks data, the analyst has a success rate of 67.8% and a total average return of 13.6% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Fortive (FTV.US)$'s main analysts recently are as follows:

  • The apprehension regarding a potential downturn for Fortive related to its Fluke / IOS segments has now materialized, which may set the stage for the stock's improved performance leading into 2025.

  • The company's Q3 results were impacted by an earnings miss attributed to IOS weakness, with additional factors including delayed government-related spending and a wider industry softness in China contributing to a reduced 2024 organic sales forecast. The company, having spent a year preparing for a spin-off and pausing M&A activities, appears to currently be in a state of 'deal-limbo,' weighing the balance of risk and reward.

  • The firm notes that while AHS performed favorably this quarter, underperformance in IOS and PT organic following a reiteration in early September has had a negative impact on the stock. The shares are considered undervalued, however, the shortfall in Q3 is unlikely to assist with the ongoing uncertainties surrounding spin-offs.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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