In the latest quarter, 10 analysts provided ratings for Fortrea Holdings (NASDAQ:FTRE), showcasing a mix of bullish and bearish perspectives. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
| Rating | Last 30D | 1M Ago | 2M Ago | 3M Ago | Total Ratings |
|---|---|---|---|---|---|
| Bullish | 0 | 0 | 0 | 0 | 6 |
| Somewhat Bullish | 0 | 0 | 0 | 0 | 1 |
| Indifferent | 0 | 0 | 0 | 0 | 0 |
| Somewhat Bearish | 0 | 0 | 0 | 0 | 2 |
| Bearish | 0 | 0 | 0 | 0 | 1 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $25.1, a high estimate of $30.00, and a low estimate of $21.00. Observing a downward trend, the current average is 18.16% lower than the prior average price target of $30.67.
Interpreting Analyst Ratings: A Closer Look
In examining recent analyst actions, we gain insights into how financial experts perceive Fortrea Holdings. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Justin Bowers | Deutsche Bank | Lowers | $23.00 | $28.00 | |
| Charles Rhyee | TD Cowen | Lowers | $23.00 | $27.00 | |
| Derik De Bruin | B of A Securities | Lowers | $21.00 | $26.00 | |
| Patrick Donnelly | Citigroup | Lowers | $30.00 | $42.00 | |
| Luke Sergott | Barclays | Lowers | $21.00 | $30.00 | |
| Elizabeth Anderson | Evercore ISI Group | Lowers | $22.00 | $27.00 | |
| Eric Coldwell | Baird | Lowers | $28.00 | $38.00 | |
| Elizabeth Anderson | Evercore ISI Group | Lowers | $27.00 | $31.00 | |
| Luke Sergott | Barclays | Announces | $30.00 | - | |
| Derik De Bruin | B of A Securities | Lowers | $26.00 | $27.00 |
Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Upgrade', or 'Downgrade' their stance, these changes provide pivotal clues about the outlook for a company's future prospects.
In this case, the downward trend in the average 12-month price target suggests that analysts are increasingly cautious about Fortrea Holdings' potential growth. This bearish sentiment can be a valuable tool for investors seeking to optimize their portfolio by making informed decisions.
More importantly, investors should look beyond analyst ratings and delve into the reasoning behind these evaluations. This includes investigating the factors driving analyst sentiment, the methodologies employed to determine price targets, and the potential impact of global economic conditions on a company's future performance.