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BUZZ-Fortive falls after Barclays downgrades to 'equal-weight', cuts PT

Reuters
Aug 14
BUZZ-Fortive falls after Barclays downgrades to 'equal-weight', cuts PT

** Shares of industrial products maker Fortive FTV.N down 1% at $48 in premarket trading

** Barclays downgrades rating to "equal-weight" from "overweight", also cuts PT to $54 from $58

** The new PT still represents a 10.8% upside to the stock's last close

** Barclays says co's second-half outlook seems tough to achieve, with slow growth and limited capital deployment

** Notes that without renewed momentum in Fortive's Advanced Healthcare Solutions segment, investor enthusiasm may remain muted

** Eight of 20 brokerages rate the stock "buy" or higher, twelve "hold"; their median PT is $57 - data compiled by LSEG

** As of last close, stock had fallen 13.8% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))

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