Fly News Breaks for September 17, 2019
Sep 17, 2019 | 07:21 EDT
Raymond James analyst Jonathan Hughes raised his price target for CubeSmart (CUBE) to $38 from $36, saying he expects a "solid" earnings release with modest increases to operational and earnings guidance following what was likely a strong summer leasing season. Hughes tells investors in a research note that while new supply pressure, maturation of the product, and outsized expense increases will continue to weigh on the top and bottom line, he believe same-store growth should trough next year and inflect slightly upward in 2021. The analyst also raised his price target for Life Storage (LSI).
News For CUBE;LSI From the Last 2 Days
Feb 25, 2020 | 08:56 EST
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.