Fortive Corp Initiated with a Hold at Oppenheimer

In a report released today, Jim Giannakouros from Oppenheimer initiated coverage with a Hold rating on Fortive Corp (NYSE: FTV). The company’s shares opened today at $54.44, close to its 52-week high of $56.24.

Giannakouros observed:

“We initiate coverage of Fortive with a Perform rating. With FTV spun out of Danaher in July 2016, we fully appreciate its well-ingrained Fortive Business Systems (FBS) culture/advantage, with continuous improvement strategies driving both share gains and higher efficiencies, potential for healthy organic growth intermediate term, and an M&A platform primed for value creation after years of (relative) neglect under the DHR umbrella. We anchor our LSD organic growth expectations on an extended EMV cycle benefiting Gilbarco Veeder-Root (~26% of sales), anticipating GDP-type growth in other businesses driven by general industrial MRO/capex.”

According to TipRanks.com, Giannakouros is a 4-star analyst with an average return of 5.2% and a 58.7% success rate. Giannakouros covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Mueller Water Products.

Fortive Corp has an analyst consensus of Moderate Buy.

The company has a one year high of $56.24 and a one year low of $43. Currently, Fortive Corp has an average volume of 1.59M.

Fortive Corp. is a diversified industrial growth company. It designs, develops, manufactures, and markets professional and engineered products, software and services for a variety of end markets. The company operates its business in two reportable segments: Professional Instrumentation and Industrial Technologies. The Professional Instrumentation segment consists of instrumentation and solutions, and sensing technologies businesses. The Industrial Technologies segment consists of transportation technologies, automation, and specialty components and franchise distribution businesses. Fortive was founded on November 10, 2015 and is headquartered in Everett, WA.