Lineage initiated with an Overweight at Piper Sandler

Piper Sandler analyst Alexander Goldfarb initiated coverage of Lineage with an Overweight rating and $102 price target. Management’s focus on people, culture, and innovation is attractive to cold storage sellers, while its self-developed technology allows customers to move more product, the analyst tells investors. Lineage is only 15 years old, but has “upended the cold storage industry” as it has automated many of functions, increasing the efficiency, reducing waste, and allowing its customers more insight on the product in the system, the analyst added.