Baird Lowers Americold and Lineage Ratings to Neutral
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 18 2025
0mins
Source: SeekingAlpha
Baird's Downgrade: Baird downgraded Americold Realty Trust (COLD) and Lineage (LINE) to Neutral from Outperform due to increased supply and better opportunities in other REIT sectors, indicating that being "cheap" is not a strong investment thesis.
Market Outlook: Analyst Nicholas P. Thillman predicts 2026 and 2027 will be "muddle-through" years as the supply/demand imbalance in cold storage will take time to correct, raising concerns about when COLD and LINE will regain pricing power.
Rating Comparisons: Baird's Neutral rating for Americold aligns with the SA Quant rating and average SA Analyst rating of Hold, contrasting with the average Wall Street rating of Buy; for Lineage, the Neutral rating aligns with the Wall Street Hold rating but contrasts with the SA Quant rating of Sell.
Additional Context: The article also mentions Americold's 8.6% dividend yield and recent strategic moves by activist investor Ancora, as well as Lineage's €700 million senior notes issuance due in 2031.
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Analyst Views on LINE
Wall Street analysts forecast LINE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LINE is 39.13 USD with a low forecast of 32.00 USD and a high forecast of 47.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
4 Buy
9 Hold
2 Sell
Hold
Current: 35.980
Low
32.00
Averages
39.13
High
47.00
Current: 35.980
Low
32.00
Averages
39.13
High
47.00
About LINE
Lineage, Inc. is a global temperature-controlled warehouse real estate investment trust (REIT) with facilities located across countries in North America, Europe, and Asia-Pacific. The Company’s segments include Global Warehousing and Global Integrated Solutions. The Global Warehousing segment utilizes the Company's industrial real estate properties to provide temperature-controlled warehousing services to its customers. This segment offers storage services and related activities, such as handling, case-picking, order assembly, load consolidation, quality control, and other such value-adding services. The Global Integrated Solutions segment includes global warehousing with specialized cold-chain services. This segment includes redistribution services, multivendor less-than-full-truckload consolidation, transportation brokerage, drayage services to and from ports, freight forwarding, rail transportation services, sales of prepared food, and e-commerce fulfillment services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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