Fortrea shares climb as activist investor Starboard discloses stake

Fortrea Holdings

17/10/2023 13:51

** Shares of contract research firm Fortrea Holdings
 FTRE.O  rise 6% to $5.94 premarket
    ** Activist investor Starboard Value LP in an SEC filing
reports an 8.7% stake in FTRE as of Oct. 9 
    ** Starboard says it believed the shares, when purchased,
were undervalued and represented an attractive investment
opportunity
    ** FTRE started trading in early July after completing its
spin-off from Labcorp  LH.N 
     ** Stock has gained about 5% this month after a drop of
nearly 16% in the last quarter
    

 (Reporting by Amruta Khandekar in Bengaluru)