Fortive downgraded to Neutral from Buy at Citi

Citi downgraded Fortive (FTV) to Neutral from Buy with a price target of $86, down from $92. The firm sees minimal catalysts for the shares ahead, saying the planned separation could limit near-term upside. Despite Fortive’s current valuation being below the long-term average, limited incremental catalysts and a near-term pause in acqsuitions could limit the valuation appreciation in the near-term, the analyst tells investors in a research note.