Fortrea price target raised to $9.50 from $7 at Jefferies

Jefferies raised the firm’s price target on Fortrea (FTRE) to $9.50 from $7 and keeps a Hold rating on the shares. Biotech funding was stronger in the last three months and bookings improved across the contract research organization industry, the analyst tells investors in a research note. However, Jefferies believes recent demand signals “are still equally mixed.”