Deutsche Bank lowered the firm’s price target on Fortrea to $23 from $28 and keeps a Hold rating on the shares. The company revised its preliminary 2025 EBITDA margin target from 13% down to 11%-12% given weaker bookings and pass through revenue through the first half of 2024, the analyst tells investors in a research note. The firm says Fortrea remains an execution story with the next catalyst for the stock either a halt of the negative estimate revisions and “or an event.”
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