NEW YORK (TheStreet) -- Shares of Fortive (FTV - Get Report) are down 1.23% to $48 this morning after the Everett, WA-based company split with Danaher (DHR) yesterday.

Barclays initiated coverage of Fortive with an "overweight" rating with a $55 price target in a note released this morning 

The price target reflects a 12% upside from the company's first-ever closing price on Tuesday of roughly $49.

"Industrial spins usually unlock value and we see no reason why both DHR and FTV cannot accelerate shareholder value creation from here," Barclays said.

Barclays added that merger and acquisition will be a key driver for value creation, and that the company should exit 2016 with "flattish to positive" core growth.

The firm sees Fortive's culture, management quality and capital allocation processes as the "best-in-class."

In the split, Danaher retained its life sciences, dental, diagnostics, water quality and product identification businesses. Fortive now owns the company's former test and measurement, industrial technologies and retail/commercial petroleum units.