Fortrea Holdings price target lowered to $27 from $33 at BofA

BofA lowered the firm’s price target on Fortrea Holdings to $27 from $33 and keeps an Underperform rating on the shares after the company reported Q1 results excluding a planned, but not-yet-closed, divestiture and lowered FY24 guidance for the divestiture, but also underperformance. Fortrea is making progress, but “it remains to be seen how quickly it will rebound to be on par with peers,” the analyst tells investors in a post-earnings note.