Fortrea Holdings Inc
FTRE: XNAS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $62.60 | Kkhbf | Thnlzrd |
Positive Long-Term Outlook Despite Near-Term Headwinds for Narrow-Moat Fortrea
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Business Strategy and Outlook
Fortrea is a global, late-stage contract research organization, or CRO, that provides comprehensive Phase I through IV clinical trial management, clinical pharmacology, and patient access solutions. Fortrea has a lengthy, 30-year history dating to the 1990s, originally part of Corning Incorporated's pharmaceutical services business. In 1997, Corning spun off this segment, which was named Covance. In 2015, Laboratory Corporation of America Holdings, or LabCorp, acquired Covance for $6.1 billion.