peterschreiber.media Mizuho started coverage of Fortrea ( NASDAQ: FTRE ) with a neutral rating, citing low near-term earnings visibility due to market share losses related to its 2023 spinout from Labcorp. ( LH ) The investment bank said it “believes the path to Fortrea’s recovery is likely in 2025-2026,” given the long-cycle nature of the CRO business.
“While the margin expansion story is compelling, given the company’s leverage profile, we prefer to see solid evidence of execution before potentially becoming more constructive,” it added. Mizuho set its price target for the stock at $27. More on Fortrea Holdings Fortrea Holdings (FTRE) Q1 2024 Earnings Call Transcript Fortrea Holdings Inc.
2024 Q1 - Results - Earnings Call Presentation Fortrea Holdings: Still Many Question Marks On This CRO Play Fortrea Holdings GAAP EPS of -$0.41 misses by $0.54, revenue of $775.
4M misses by $3.69M Historical earnings data for Fortrea Holdings.
