Fortive price target lowered to $77 from $82 at Wells Fargo

Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on Fortive (FTV) to $77 from $82 and keeps an Equal Weight rating on the shares. The firm says AHS did well this quarter, but shortfalls in IOS and PT organic after Q3 was reiterated in early September weighed on the stock. Shares are inexpensive, but a Q3 miss isn’t going to help spin limbo overhang, Wells argues.