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Fly News Breaks for September 17, 2019
LSI, CUBE
Sep 17, 2019 | 07:22 EDT
Raymond James analyst Jonathan Hughes raised his price target for Life Storage (LSI) to $110 from $106 and maintained an Outperform rating, 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 CubeSmart (CUBE) to $38 from $36.
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