Evercore ISI initiated coverage of Fortrea Holdings (FTRE) with an In Line rating and $31 price target. Fortrea, recently spun out from prior owner LabCorp (LH), is a global late-stage clinical research organization and “the main question” surrounding Fortrea is if, and when, the necessary business improvements can materialize, says the analyst. Given the likely changes to Fortrea over the next 12-plus months, the firm sees 2025 as “the most relevant valuation year,” the analyst tells investors.
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