Fortrea Holdings price target lowered to $31 from $43 at Evercore ISI

Evercore ISI lowered the firm’s price target on Fortrea Holdings to $31 from $43 and keeps an Outperform rating on the shares. Following the company’s earnings call, which brought clarity on a few key points regarding Fortrea’s Q1 print, the analyst still sees the core Fortrea improvement story as “intact, albeit on a slightly messier/delayed basis.” The firm is lowering its price target to $31 to reflect the greater uncertainty in the trajectory, the analyst noted.