Shares of Fortrea Holdings (NASDAQ:FTRE) surged 4.8% after Evercore ISI upgraded the stock to Outperform from In Line and raised the price target to $25 from $14. The upgrade was due to a quickening biopharma cycle and the company’s improved execution. Fortrea beat revenue and profit margin expectations while making progress in reducing debt. The stock closed at $16.51, up 3.4%. Analysts consider the news meaningful but not game-changing. The stock has been volatile, with 73 moves greater than 5% in the past year. Fortrea is down 1.8% year-to-date and trading 11.7% below its 52-week high.

Read more at StockStory: Why Fortrea (FTRE) Stock Is Trading Up Today