Evercore ISI upgraded Fortrea Holdings (FTRE) to Outperform from In Line with a price target of $36, up from $32. The firm sees the risk-reward on shares as more favorable post this week’s pullback as well as seeing upside to longer-term estimates, the analyst tells investors. The firm calls the Acelyrin (SLRN) 8-K “an unfortunate public spat that brings into view the kind of infrequent issues that are more frequently dealt with out of sight of investors,” but argues that the 12% decline in Fortrea shares seems out-of-proportion with the potential financial impact.
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