Lineage price target lowered to $75 from $90 at Piper Sandler

Piper Sandler analyst Alexander Goldfarb lowered the firm’s price target on Lineage (LINE) to $75 from $90 and keeps an Overweight rating on the shares. For the first time since the pandemic, cold storage has normalized its inventory levels, with food companies gearing up to increase promotions to boost sales – frozen manna to Lineage’s bottom-line, the firm says. Economically sensitive seafood, heavily skewed to shrimp, remains below pandemic levels, and thus provides potential upside for demand if the economy accelerates. Piper remains confident in Lineage’s operating abilities.