Fortrea Holdings Inc

FTRE: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$91.50	Skrgvc	Bpwvsqbzd

Fortrea: Healthy Clinical Trial Outsourcing Demand Supports Backlog Growth; Shares Undervalued

Rachel Elfman

Nov 14, 2023

Fortrea reported solid third-quarter results highlighted by revenue of $776 million. The company is tracking our expectations and we maintain our fair value estimate of $35.50 per share. We view shares as undervalued, currently trading about 8% below our fair value estimate. Investors reacted positively to Fortrea’s results, sending the stock up over 10%.

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