Truist Financial Forecasts Strong Price Appreciation for Fortrea (NASDAQ:FTRE) Stock

Key Points

• Truist Financial raised Fortrea’s price target to $26 from $19 and maintained a “buy” rating, implying approximately 34% upside from the reported share price of $19.41.
• Fortrea exceeded quarterly expectations, reporting earnings of $0.23 per share versus $0.18 expected and revenue of $678.2 million versus $647.6 million estimated.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and average price target of $19.75; Fortrea’s shares have risen substantially from their 12-month low of $5.26.

Fortrea (NASDAQ:FTRE - Get Free Report) had its price objective raised by equities researchers at Truist Financial from $19.00 to $26.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective would indicate a potential upside of 33.94% from the company's current price.

A number of other equities research analysts have also recently commented on the stock. Robert W. Baird set a $23.00 target price on shares of Fortrea in a research note on Thursday. Barclays raised their price objective on shares of Fortrea from $18.00 to $22.00 and gave the company an "equal weight" rating in a research report on Thursday. Zacks Research upgraded shares of Fortrea from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. Evercore reaffirmed an "outperform" rating on shares of Fortrea in a report on Wednesday. Finally, TD Cowen reiterated a "buy" rating on shares of Fortrea in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fortrea presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

Fortrea Stock Performance

Shares of NASDAQ FTRE traded down $0.99 during trading on Thursday, hitting $19.41. The company had a trading volume of 407,523 shares, compared to its average volume of 1,507,441. The stock has a 50 day simple moving average of $16.81 and a 200 day simple moving average of $13.79. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.95 and a current ratio of 0.95. Fortrea has a 12 month low of $5.26 and a 12 month high of $21.39. The firm has a market capitalization of $1.84 billion, a P/E ratio of -3.96, a price-to-earnings-growth ratio of 0.63 and a beta of 2.03.

Fortrea (NASDAQ:FTRE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.05. The firm had revenue of $678.20 million for the quarter, compared to analysts' expectations of $647.57 million. Fortrea had a positive return on equity of 9.51% and a negative net margin of 16.50%. As a group, analysts anticipate that Fortrea will post 0.8 earnings per share for the current year.

Institutional Trading of Fortrea

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Fortrea by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 8,331,016 shares of the company's stock valued at $143,710,000 after purchasing an additional 258,098 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Fortrea by 3.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,272,597 shares of the company's stock worth $142,702,000 after buying an additional 293,992 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Fortrea by 494.8% in the second quarter. AQR Capital Management LLC now owns 6,515,124 shares of the company's stock worth $31,729,000 after buying an additional 5,419,842 shares in the last quarter. State Street Corp grew its holdings in Fortrea by 1.0% during the 4th quarter. State Street Corp now owns 4,110,899 shares of the company's stock valued at $70,913,000 after buying an additional 39,777 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Fortrea by 21.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,219,029 shares of the company's stock valued at $55,528,000 after buying an additional 565,891 shares in the last quarter.

More Fortrea News

Here are the key news stories impacting Fortrea this week:

• Positive Sentiment: Fortrea reported second-quarter earnings of $0.23 per share, exceeding the $0.18 analyst consensus and improving from $0.19 a year earlier. Revenue reached $678.2 million, above the $647.6 million estimate. Fortrea Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management raised or increased its full-year outlook, forecasting 2026 revenue of $2.62 billion to $2.69 billion. The company highlighted four consecutive quarters of commercial, operational and financial execution, supporting investor confidence in its turnaround. Fortrea Reports Second Quarter 2026 Results
• Positive Sentiment: The earnings call commentary characterized the full-year sales outlook as optimistic and emphasized continued execution, which may reinforce expectations for improving profitability. Fortrea Reports Strong Q2 and Optimistic Guidance

Fortrea Company Profile

Fortrea, Inc is a global contract development and manufacturing organization (CDMO) that provides integrated solutions for pharmaceutical and biotechnology companies. Established as a spin-off from Thermo Fisher Scientific's Pharma Services business in October 2023, Fortrea leverages a legacy of scientific expertise and manufacturing scale to support drug development from early-stage research through commercial production. The company's comprehensive offerings address the complex needs of both small-molecule and biologics programs, making it a single source for clients seeking to accelerate timelines and manage costs.

Fortrea's core services encompass analytical and formulation development, process optimization, clinical and commercial manufacturing, and packaging services.

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