JPMorgan upgraded Americold Realty Trust to Overweight from Neutral with an unchanged price target of $30. The firm likes the company’s growth setup better than it did earlier in the year. The analyst sees Americold as being on a considerably better earnings trajectory for 2024 and into 2025 due largely to how labor improvements and efficiencies are having a significant positive impact on its lower margin services and handling operations. In addition, the company’s stock valuation seems conducive to accretive capital deployment, it notes.
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