Fortrea price target raised to $25 from $20 at Barclays

Barclays analyst Luke Sergott raised the firm’s price target on Fortrea (FTRE) to $25 from $20 and keeps an Equal Weight rating on the shares post the Q3 report. The company reported a bookings beat driven by broad strength in biotech and lrge pharma, the analyst tells investors in a research note. The firm thinks this highlights Fortrea’s exposure to parts of the market that are less impacted by overall biotech funding weakness and large pharma restructurings.