Americold shares dip after J.P.Morgan downgrades rating to 'underweight'

Shares of cold storage REIT Americold Realty Trust COLD.N fall nearly 2% to $12.6 in premarket

J.P.Morgan downgrades rating on stock to "underweight" from "neutral"; trims PT to $15 from $17

Ongoing industry challenges such as lower throughput volumes and pressure on occupancy and pricing can continue to weigh on Americold's performance - brokerage

"Given the operating-intensive nature of the cold storage business, we expect our forecasts to continue to be a moving target over the near term" - J.P.Morgan

Average rating on stock is "buy" and median PT is $19 - data compiled by LSEG

As of last close, shares down ~40% YTD