Lineage downgraded to Neutral from Outperform at Baird

Baird analyst Nicholas Thillman downgraded Lineage (LINE) to Neutral from Outperform with a price target of $39, down from $45. The firm cites growing downward pricing and occupancy pressure for the downgrade. It does not see the company’s valuation discount as being a catalyst to push the shares higher. With 2026 and 2027 “still looking like muddle-through years,” there are better alternatives to put fresh capital to work today, the analyst tells investors in a research note.