Evercore ISI analyst Elizabeth Anderson lowered the firm’s price target on Fortrea Holdings to $22 from $27 and keeps an In Line rating on the shares. Fortrea’s outlook is slightly “murkier” as the weaker book-to-bill increases the risk to 2025 revenue growth and the associated EBITDA drop down, the analyst tells investors in a research note. The firm does still see overall improving performance vs. 1H, but with a more gradual slope.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FTRE:
- Fortrea Holdings sees FY24 revenue $2.7B-$2.75B, consensus $2.8B
- Fortrea Holdings reports Q2 adjusted EPS (3c), consensus 8c
- Fortrea Holdings Inc. (FTRE) Q2 Earnings Cheat Sheet
- Fortrea Holdings downgraded to In Line from Outperform at Evercore ISI
- Labcorp price target raised to $260 from $240 at BofA