Evercore ISI lowered the firm’s price target on Lineage (LINE) to $59 from $68 and keeps an In Line rating on the shares after the company reported Q1 results. Outside of earnings, the company simultaneously announced a large acquisition and development agreement with Tyson Foods (TSN), which will see Lineage acquire four existing assets from Tyson for $247M and build two new automated warehouses for $740M that Tyson will anchor in a few years, the analyst noted. After updating the model for Q1 results, the firm’s FY25 AFFO per share estimate falls from $3.45 to $3.38, the analyst noted.
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