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.
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:
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