Lineage

LINE · NASDAQ

$34.44+$1.22 (+3.67%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $33.22

LINE analyst rating

HoldConsensus of 17 analysts over the last 12 months. 41% rate it a buy.

Strong buy0
Buy7
Hold8
Underperform2
Sell0

12-month price target · 21 analysts

Average $45.28 (+31.5% upside)

Low: $35.35
Now: $34.44
High: $57.75

Upgrades and downgrades

The latest rating actions, newest first

LINE analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
UBS	Oct 20, 2026	Maintains	Neutral	$45.00 → $36.00	45%
JP Morgan	Oct 15, 2026	Maintains	Underweight	$40.00 → $37.00	53%
Piper Sandler	Oct 12, 2026	Maintains	Neutral	$44.00 → $36.00	44%
Evercore ISI Group	Oct 2, 2026	Maintains	In-Line	$45.00 → $43.00	45%
Scotiabank	Oct 2, 2026	Maintains	Sector Perform	$44.00 → $39.00	39%
Evercore ISI Group	Sep 21, 2026	Maintains	In-Line	$47.00 → $45.00	45%
Scotiabank	Sep 17, 2026	Maintains	Sector Perform	$45.00 → $44.00	39%
Morgan Stanley	Sep 9, 2026	Upgrade	Equal-Weight → Overweight	$47.00	56%
Wells Fargo	Sep 1, 2026	Maintains	Equal-Weight	$36.00 → $38.00	42%
Piper Sandler	Aug 27, 2026	Maintains	Neutral	$46.00 → $44.00	44%

The case for and against

Updated Oct 14, 2026

Bull case

Lineage is supported by a compelling internal-growth story as LinOS expands to 14 warehouses and is on track for 20 by year-end, with management expecting about $110 million of incremental EBITDA by 2028-2030 through lower labor costs and improved occupancy and throughput. The company also appears to be moving past industry headwinds, with analysts noting a better operating environment, a return to earnings growth in 2027, and potential FAD per share growth averaging 6.7% annually from 2026-2031. Despite net debt to EBITDA at 6.0x, its planned dispositions and disciplined capital allocation should support deleveraging toward 5.0-5.5x, while its market-leading cold-storage platform and $12 billion+ acquisition track record reinforce long-term upside.

Bear case

Lineage is facing a still-fragile operating backdrop in which destocking, new supply pressure, and trade disruption have weighed on throughput, with trade issues representing 15% of the business and only expected to begin lapping results in 4Q26. Although the operating environment is stabilizing and larger players are taking market share, near-term earnings are constrained by the Big Bear fire and a one-time GIS expense, while AFFO is still projected to drop 12.8% in 2026 and 0.5% in 2027 before recovering to $3.17/share in 2028. The outlook remains negative because the business is operationally intensive and low-margin, with labor, inflation, and food-market weakness creating risk that volumes, inventory levels, and valuation could all deteriorate if the recovery stalls.

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