Fortive price target lowered to $80 from $86 at Wolfe Research

Wolfe Research lowered the firm’s price target on Fortive to $80 from $86 and keeps an Outperform rating on the shares post the Q3 report. The analyst believes the market was somewhat surprised by the turn in China relative to mid-quarter commentary. The firm says that while there is potential for short cycle headwinds to pick up, it is encouraged by solid Fluke sell-through.