Demand for cold storage is tied to demand for food, which is relatively stable through economic cycles.
We expect demand for temperature-controlled storage space to rise, due to consumers' increasing desires for greater variety and fresh/organic choices at the grocery store as well as a newfound focus on resilience over efficiency in supply chains.
The temperature-controlled warehouse space has rapidly consolidated in the past decade, with Americold and rival Lineage Logistics combined controlling more than 45% of all capacity in the North American market.
Raymond James
2024-12-11
Price Target
$31 → $27
Upside
+18.63%
Barclays
2024-11-18
Price Target
$28 → $26
Upside
+19.54%
Baird
2024-11-08
Price Target
$31 → $28
Upside
+23.02%