Fortrea initiated with a Hold at Truist

Truist initiated coverage of Fortrea (FTRE) with a Hold rating and $7 price target The firm likes the company’s positioning in the market as a mid-sized contract research organization, but says its results since the spinoff have been mixed. In the currently uncertain macro environment, Truist prefers scaled operators with relatively better track records of operational execution and would recommend investors be selective in the space, the analyst tells investors in a research note.