Analyst Ki Bin Kim of Truist Financial maintained a Buy rating on Americold Realty (COLD – Research Report), retaining the price target of $27.00.
Ki Bin Kim has given his Buy rating due to a combination of factors that highlight Americold Realty’s relative strengths despite some challenges. Although the company reported weaker-than-expected results and lowered its full-year guidance, it demonstrated a stronger ability to maintain pricing power compared to its peers. This was evidenced by an increase in same-store rent per occupied pallet and service rent per pallet, which suggests a competitive edge in pricing strategy.
Furthermore, while the same-store revenue and net operating income showed declines, Americold’s valuation remains more attractive compared to its competitor, Lineage, Inc. The company’s management has also maintained its guidance, albeit at a lowered level, which indicates a level of confidence in future performance. These factors combined suggest that, relative to its peers, Americold Realty is positioned to potentially outperform, justifying the Buy rating.
According to TipRanks, Bin Kim is a 5-star analyst with an average return of 7.8% and a 59.45% success rate. Bin Kim covers the Real Estate sector, focusing on stocks such as Public Storage, Eastgroup Properties, and Acadia Realty.