Wells Fargo Raised the Firm's PT on Americold Realty Trust (COLD), Kept a Buy Rating

Americold Realty Trust, Inc. (NYSE:COLD) is one of the Best 52-Week Low Stocks to Buy According to Analysts. On July 13, Wells Fargo’s analyst Blaine Heck raised the firm’s price target on Americold Realty Trust, Inc. (NYSE:COLD) from $15 to $20, while maintaining a Buy rating on the stock.

The analyst noted that this upgrade was part of the firm’s Q2 preview, where they adjusted price targets within the industrial and cold storage real estate investment trust (REIT) group. The analyst also highlighted that the group’s conservative initial outlooks, combined with Q1 earnings that beat expectations, should help insulate the REITs from negative estimate revisions. However, Heck emphasized the importance of the duration of the current softness in the leasing activity. The duration of this softness in leasing activity is a major factor that will influence investor sentiment and performance going forward.

Americold Realty Trust, Inc. (NYSE:COLD) is a real estate investment trust (REIT) that owns and operates temperature-controlled warehouses globally.

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Disclosure: None. This article is originally published at Insider Monkey.