BofA analyst Michael Ryskin lowered the firm’s price target on Fortrea Holdings to $26 from $27 and keeps an Underperform rating on the shares. The Life Science Tools recovery took a step back during Q2 as management commentary in recent months has been more cautious, several end-markets have seen incremental softening, and there is increasing worry that the long-anticipated recovery could be delayed yet again, the analyst tells investors in a preview for the Life Sciences & Diagnostic Tools group. Investor attention is starting to turn to 2025 and “there is a growing consensus that next year’s estimates need to be revised down as well, further dampening Tools sentiment,” the analyst added.
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 Announces Date for Second Quarter 2024 Financial Results and Conference Call
- Fortrea Holdings Inc. Announces New Principal Accounting Officer
- Fortrea Holdings appoints Parks as CAO
- Fortrea Appoints Robert Parks as Chief Accounting Officer
- Fortrea Holdings added to ‘Tactical Outperform’ list at Evercore ISI