RBC Capital analyst Deane Dray raised the firm’s price target on Fortive to $93 from $80 but keeps a Sector Perform rating on the shares. Fortive has the potential to fulfill its destiny as the “Next Danaher” and the firm likes the fundamentals of this story longer-term, but the firm also cautions that Fortive’s portfolio is more cyclical than Danaher’s due to the nature of its niche industrial businesses, the analyst tells investors in a research note.
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