Lineage initiated with a Buy at BofA

BofA analyst Joshua Dennerlein initiated coverage of Lineage (LINE) with a Buy rating and $100 price target. As the world’s largest and second publicly-traded REIT solely focused on owning, acquiring, and operating cold storage warehouses, the firm thinks the biggest advantage that Lineage has versus competitors including Americold Realty (COLD) is its best-in-class operating platform, the analyst tells investors. BofA thinks LINE will produce AFFO and EBITDA growth in the high-single digits through 2028, the analyst added.