Fortive's stock price plummeted 5.02% during intraday trading on Wednesday, following analyst actions from JPMorgan.
JPMorgan adjusted its price target on Fortive to $63 from $57 but maintained its Underweight rating on the stock. An Underweight rating indicates the analyst's view that the stock is expected to underperform its sector or the broader market, which likely contributed to the selling pressure.
According to data from FactSet, Fortive has an average analyst rating of Hold with a mean price target of $62.19.
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