Lineage price target lowered to $89 from $104 at Goldman Sachs

Goldman Sachs analyst Caitlin Burrows lowered the firm’s price target on Lineage (LINE) to $89 from $104 but keeps a Buy rating on the shares after its Q3 results. The company’s Q3 net operating income was in-line despite soft demand, and while the near-term same-store operating income revenue growth may be “limited”, the ability by Lineage to maintain occupancy, increase pricing at least in-line with inflation, and improve efficiency/control expenses allows for outsized normalized growth in 2025 and 2026, the analyst tells investors in a research note.