Wolfe Research analyst Andrew Rosivach upgraded Americold Realty Trust to Outperform from Peer Perform with a $31 price target. The analyst expects Americold to produce “outsized” growth from storage volume recoveries and development stabilizations while trading at a similar multiple to peers. The firm says a runway to volume recovery and accretion from development allows for outsized growth through 2025 at an attractive valuation. The stock underperformed year-to-date on near term storage volume pressures, but easier comps and forward commentary from food supply chain players show optimism, the analyst tells investors in a research note.
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