Compass Point analyst Rob Simone initiated coverage of Americold Realty Trust (COLD) with a Buy rating and $14.50 price target. The stock is too "cheap," says the analyst, who sees several potential upside catalysts, including an embedded activist presence. Americold and peer Lineage (LINE) make up the temperature-controlled warehouse subsector within Industrial/Logistics REITs and both have re-rated materially lower over the past roughly two years due to several industry headwinds, including de-stocking and overcapacity, but there is nothing "wrong" or "broken" with either company right now, the analyst argues.
