RBC Capital lowered the firm’s price target on Americold Realty Trust to $34 from $38 but keeps an Outperform rating on the shares after its inline Q3 results and affirmed guidance. The company is well positioned to generate significant earnings growth over the next few years in part due to recovering service margins and stabilizing completed developments, the analyst tells investors in a research note. While the weaker throughput trend should limit results in the first half of 2024, this is likely a temporary headwind concern, the firm added.
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