UPDATE: JPMorgan Upgrades Americold Realty Trust (COLD) to Overweight

(update comment)

JPMorgan analyst Anthony Paolone upgraded Americold Realty Trust (NYSE: COLD) from Neutral to Overweight with a price target of $38.00.

The analyst comments "We are upgrading Americold (COLD) shares to Overweight from Neutral, as we see a buying opportunity following the recent post earnings weakness. Recall that 3Q earnings came in below the Street, and we have seen estimates decline (including ours) tied to the 3Q print and updated views on development NOI ramp. The stock lagged the REIT group by ~950 bps since the 3Q release and by close to ~400 bps since our 12/11 estimate reductions. Despite the lower earnings expectations, we continue like the company’s internal and external growth prospects, and we still believe it is poised to generate above-average Core FFO/share growth."

For an analyst ratings summary and ratings history on Americold Realty Trust click here. For more ratings news on Americold Realty Trust click here.

Shares of Americold Realty Trust closed at $33.15 yesterday.

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