Barclays double downgraded Americold Realty Trust (COLD) to Underweight from Overweight with a price target of $12, down from $15. The firm says rising fertilizer costs add to the “persistent challenges” the cold storage industry faces, which include excess supply, weight loss drugs, food inflation, population deceleration, tariffs, and diminished cattle herds. Barclays cites its negative channel checks for the downgrade of both Americold and Lineage.
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