Fortive (FTV) Receives a Hold from Rosenblatt Securities

By Jason Carr

Rosenblatt Securities analyst Scott Graham reiterated a Hold rating on Fortive (FTVResearch Report) today and set a price target of $78.00. The company’s shares closed last Monday at $72.55.

According to TipRanks.com, Graham is a 4-star analyst with an average return of 7.6% and a 61.4% success rate. Graham covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation, AO Smith, and Pentair.

Fortive has an analyst consensus of Moderate Buy, with a price target consensus of $84.57, implying a 14.7% upside from current levels. In a report issued on February 11, Raymond James also downgraded the stock to Hold.

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Based on Fortive’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $193 million. In comparison, last year the company had a net profit of $2.11 billion.

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Fortive Corp. is a diversified industrial growth company, which designs, develops, manufactures, and markets professional and engineered products, software, and services for a variety of end markets. It operates through the following two segments: Professional Instrumentation and Industrial Technologies.