Fortrea downgraded to Neutral from Buy at Citi

Citi downgraded Fortrea (FTRE) to Neutral from Buy with a price target of $23, down from $30. The firm says it has less clarity on the company’s margin story in a more challenged bookings backdrop. Fortrea’s overall visibility in the current environment brings more uncertainty on management’s constructive view on Q1 bookings, the analyst tells investors in a research note.