Shares of Fortrea Holdings (NASDAQ:FTRE) dropped 6.3% due to negative news about a U.S. government investigation into medical equipment imports, potentially leading to tariffs or quotas on healthcare products. The stock closed at $8.92, down 5.9% from the previous day. Despite this, the market views the news as significant but not a game-changer for the company. Analysts have raised Fortrea’s average 12-month price target by nearly 20% to $8.00, with a high estimate matching Baird’s at $14.00. The stock is down 52.2% this year and trades 62.4% below its 52-week high. Investors who bought at the IPO in June 2023 would see a significant loss.

Read more at Barchart: Why Fortrea (FTRE) Shares Are Sliding Today