Barclays reinstated coverage of Fortrea Holdings with an Equal Weight rating and $30 price target following the closing of the divestiture of the Endpoint Clinical and Patient Access business. The firm says it “never thought” Fortrea would be “a clean turnaround/recovery story,” though it notes that management has enacted several initiatives to sharpen commercial business development and the firm sees early success from this strategy of solidifying existing relationships in addition to winning new customers.
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