Scotiabank downgraded Americold Realty Trust (COLD) to Sector Perform from Outperform with a price target of $20, down from $24. The firm cites the company’s “longer road” to improving funds from operations growth above the peer average for the downgrade. The challenged consumer environment pushes any sort of meaningful growth out to 2027, the analyst tells investors in a research note. Scotiabank believes Americold has a lack of visibility into future revenues compared to other real estate investment trusts.
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