Berenberg analyst Andrew Buscaglia initiated Fortive (FTV) with a Buy rating and $96 price target, stating that he believes the company will prove to be the leader of the next generation of multi-industry industrials and the stock "provides a second chance" to own a stock like Danaher (DHR), from which Fortive was spun-out. Buscaglia also thinks synergies are just beginning from Fortive's portfolio transformation, he noted.
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Sees Q2 revenue $1.6B, consensus $1.62B. The company said, "For the second quarter of 2024, Fortive anticipates revenue of approximately $1.6 billion, diluted net earnings per share of $0.57 to $0.60 and adjusted diluted net earnings per share of $0.90 to $0.93."
Baird raised the firm's price target on Danaher to $271 from $259 and keeps an Outperform rating on the shares. The firm said they reported 1Q results above expectations, helped by respiratory testing and bioprocessing upside. The company saw encouraging bioprocessing trends, with orders growing mid-single-digits, and noted normalization of large customer ordering patterns, with management expecting destocking to be largely complete by 2Q24-end.
Barclays raised the firm's price target on Danaher to $270 from $260 and keeps an Equal Weight rating on the shares post the Q1 report. The company's orders came in above expectations, the analyst tells investors in a research note. The firm says bioprocessing names continue to be favored by investors and that it does not see this changing in the near term.
Notable gainers among liquid option names this morning include Globe Life (GL) $71.33 +4.94, Super Micro (SMCI) $764.85 +47.83, Danaher (DHR) $250.88 +14.79, Kimberly Clark (KMB) $136.87 +7.94, and General Motors (GM) $45.38 +2.17.
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