Fortrea Holdings Inc. (NASDAQ:FTRE) is one of the cheap stocks to buy for the next 5 years. On October 2, Barclays raised the firm’s price target on Fortrea to $8 from $6, while keeping an Underweight rating as part of a Q3 2025 preview for the life science tools and diagnostics group. Earlier in Q2, Fortrea Holdings made a quarterly revenue of $710.3 million, which was up 7.23% year-over-year.
The company also achieved an Adjusted EBITDA of $54.9 million and an adjusted net income per diluted share of $0.19, which led management to raise its full-year 2025 revenue guidance to a range of $2.6 to $2.7 billion, while affirming its Adjusted EBITDA guidance.
But despite this growth, Fortrea recorded a GAAP net loss of $374.9 million, or $4.14 per diluted share due to a substantial non-cash goodwill impairment charge of $309.1 million. Fortrea’s backlog stood at $7.547 billion. In Q2, the company affirmed that its cost-saving initiatives remain on track.
Fortrea Holdings Inc. is a contract research organization that provides biopharmaceutical product & medical device development solutions to pharmaceutical, biotechnology, and medical device customers.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
This article is originally published at Insider Monkey.
