Fortrea Holdings initiated with a Market Perform at William Blair

William Blair initiated coverage of Fortrea Holdings with a Market Perform rating and no price target. espite some potential near-term softness in total R&D spend, the clinical contract research organization space is an attractive area for investors looking to indirectly gain exposure to the high-growth biopharma industry, the analyst tells investors in a research note. The firm is optimistic that management will eventually establish Fortrea as a market leader, but expects market share losses to continue to weigh on results in the near term. The near-term outlook is clouded by spin-related costs and execution risk, says Blair.