KeyBanc analyst Todd Thomas raised his price target for Life Storage to $122 from $114 saying that despite the challenging self storage environment, the company is "firing on all cylinders" and 2020 is poised to mark a turning point for Life Storage. Revenue growth continues to improve, controllable expenses are being contained, and there appears to be a long runway for capitalizing on a number of other initiatives, he contends. As a result, the analyst notes Life Storage's cost of capital is improving, which provides support for the company's external growth initiatives. Thomas reiterates an Overweight rating on the shares.