Americold Realty Trust upgraded to Buy at BofA on faster than expected recovery

As previously reported, BofA analyst Joshua Dennerlein upgraded Americold Realty Trust to Buy from Neutral with a price target of $33.50, up from $27.50, citing his view that top line growth is recovering faster than expected as management pushes rates to offset inflation pressures and occupancy continues to climb. Management feels confident they have "found the clearing price for labor" and his cold storage employment tracker is consistent with this view, so he expects less wage growth, Dennerlein added.