Lineage downgraded at Scotiabank on lower growth expectations

As previously reported, Scotiabank downgraded Lineage (LINE) to Sector Perform from Outperform with a price target of $56, down from $74, due to lower AFFO per share growth expectations and the risks associated with tariffs. Lineage has an outsized exposure to more heavily imported food categories, such as seafood, which represents 13% of Lineage’s warehouse revenue compared to 2% for Americold Realty Trust (COLD), the analyst noted.