RBC Capital lowered the firm’s price target on Fortive to $73 from $79 and keeps a Sector Perform rating on the shares. The analyst cites the company’s Q3 operating miss and below-consensus Q4 guidance, with core revenue downside in all three segments, the analyst tells investors in a research note. Normalizing hardware orders, delayed bioprocessing recovery, ongoing China weakness, and a more challenging sales channel transition were the main drivers of this shortfall, the firm added.
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