BofA analyst Michael Ryskin lowered the firm’s price target on Fortrea (FTRE) to $6 from $10 and keeps an Underperform rating on the shares. Sentiment for Life Sciences and Diagnostic Tools and Contract Research Organizations is “particularly negative” heading into earnings given that these companies “sit at the intersection of a number of policy changes from the Trump Administration,” including headwinds from NIH budget cuts and global tariffs, as well as broader macro concerns, especially around China, the analyst tells investors in a preview for the group.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FTRE:
- Fortrea Holdings Inc. Faces Revenue and EBITDA Decline Amid Challenging Market Dynamics, Hold Rating Issued
- Fortrea downgraded to Underweight from Equal Weight at Barclays
- Fortrea price target lowered to $10 from $12 at Mizuho
- Fortrea Holdings Appoints Erin L. Russell as Director
- Fortrea price target lowered to $11 from $20 at TD Cowen