Bank of America analyst Michael Ryskin has revised his outlook on Fortrea (FTRE, Financial), reducing the company's price target from $10 to $6. The analyst maintains an Underperform rating on Fortrea's shares. This move reflects the broader negative sentiment affecting companies in the Life Sciences and Diagnostic Tools and Contract Research Organizations sectors.
Ahead of upcoming earnings, these companies are facing significant challenges. They are situated at a critical juncture of several policy changes initiated under the Trump Administration. Key issues include reductions in the NIH budget and the impact of global tariffs, along with wider macroeconomic concerns, particularly involving China. These factors have raised investor caution in these sectors, prompting the downward adjustment in Fortrea's price target.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 10 analysts, the average target price for Fortrea Holdings Inc (FTRE, Financial) is $8.10 with a high estimate of $12.00 and a low estimate of $6.00. The average target implies an upside of 51.97% from the current price of $5.33. More detailed estimate data can be found on the Fortrea Holdings Inc (FTRE) Forecast page.
Based on the consensus recommendation from 11 brokerage firms, Fortrea Holdings Inc's (FTRE, Financial) average brokerage recommendation is currently 3.2, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
