Fortrea price target lowered to $10 from $17 at BofA

BofA lowered the firm’s price target on Fortrea (FTRE) to $10 from $17 and keeps an Underperform rating on the shares after a Q4 miss and FY25 sales and EBITDA guidance came in well below expectations. The firm is “encouraged” to see that Fortrea has initiated restructuring programs and although Fortrea is making progress, BofA says the company “needs to show sustained, improved execution before we revisit our thesis.”