Fortrea (NASDAQ:FTRE) Research Coverage Started at Deutsche Bank Aktiengesellschaft

by · The Cerbat Gem

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortrea (NASDAQ:FTRE – Free Report) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm issued a hold rating and a $36.00 price target on the stock.

Several other brokerages also recently issued reports on FTRE. William Blair initiated coverage on shares of Fortrea in a report on Friday, January 5th. They issued a market perform rating on the stock. Jefferies Financial Group started coverage on shares of Fortrea in a report on Thursday, January 4th. They issued a buy rating and a $44.00 price target on the stock. Barclays reduced their price objective on shares of Fortrea from $38.00 to $35.00 and set an overweight rating on the stock in a research note on Thursday, January 25th. Evercore ISI raised shares of Fortrea from an in-line rating to an outperform rating and upped their price objective for the company from $32.00 to $36.00 in a research note on Friday, December 1st. Finally, Citigroup raised shares of Fortrea from a neutral rating to a buy rating and upped their price objective for the company from $34.00 to $40.00 in a research note on Monday, December 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Fortrea has an average rating of Hold and a consensus price target of $36.33.

Check Out Our Latest Analysis on Fortrea

Fortrea Trading Up 0.4 %

Shares of NASDAQ FTRE opened at $36.83 on Wednesday. Fortrea has a 12-month low of $24.92 and a 12-month high of $38.47. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.93. The firm’s 50-day moving average is $33.37 and its two-hundred day moving average is $30.98.

Hedge Funds Weigh In On Fortrea

A number of large investors have recently bought and sold shares of the stock. Trust Co. of Vermont purchased a new position in Fortrea during the fourth quarter worth approximately $80,000. Goldman Sachs Group Inc. acquired a new stake in shares of Fortrea in the fourth quarter worth $7,758,000. American International Group Inc. acquired a new stake in shares of Fortrea in the fourth quarter worth $171,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Fortrea in the fourth quarter worth $1,029,000. Finally, FIL Ltd acquired a new stake in shares of Fortrea in the fourth quarter worth $14,176,000.

About Fortrea

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Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. It operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.

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