Compass Point initiated coverage of Lineage (LINE) with a Buy rating and $47 price target. Similar to peer Americold Realty Trust (COLD), the firm believes the company could be on the cusp of a positive earnings growth inflection. Americold and peer Lineage make up the temperature-controlled warehouse subsector within Industrial/Logistics REITs and both have re-rated materially lower over the past roughly two years due to several industry headwinds, including de-stocking and overcapacity, but there is nothing “wrong” or “broken” with either company right now, the analyst argues.
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