Americold Realty Trust price target lowered to $23 from $30 at KeyBanc

KeyBanc lowered the firm’s price target on Americold Realty Trust (COLD) to $23 from $30 and keeps an Overweight rating on the shares. The Cold Storage REITs remain out of favor, given a challenging operating environment stemming from softer demand and elevated levels of new supply, the firm says. Importantly, the outlook for conditions to stabilize remains uncertain. Despite easier comparable sales and post-pandemic inventory de-stocking that may be in the later innings, KeyBanc believes there is risk that the second half of 2025 growth falls short of lowered growth expectations.