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Fly News Breaks for December 9, 2019
FTV
Dec 9, 2019 | 08:22 EDT
Credit Suisse analyst John Walsh upgraded Fortive to Outperform from Neutral with a price target of $82, up from $75. In a research note to investors, Walsh says he thinks recent earnings pressure at Fortive is driven by cyclical pressures which reverse in 2H20. He says he sees continued portfolio optionality following the separation of the Transportation Tech and Franchise Distribution businesses, which is being targeted in 2H20 and thinks "spinco" is also more than a traditional industrial company given FBS culture, strong free cash flow profile, and manageable EMV exposure.
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