KeyBanc lowered the firm’s price target on Americold Realty Trust to $32 from $37 and keeps an Overweight rating on the shares ahead of the Q1 earnings report. Sentiment towards Americold remains overly negative as the company’s execution has been challenged partially due to the difficult operating environment, with shares down 16.7% year-to-date, the analyst tells investors in a research note. The firm remains encouraged that fundamentals may improve during the year and looks for cash flow growth to accelerate as warehouse service margins expand and developments/non-same store assets stabilize.
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