Jefferies Upgrades National Storage Affiliates Trust (NSA) to Buy
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Jefferies upgraded National Storage Affiliates Trust (NYSE: NSA) from Hold to Buy with a price target of $24.00 (from $22.00).
Analyst George Hoglund commented, "Last week NSA announced the acquisition of the iStorage portfolio. Subsequent data released by NSA on the deal reinforces our view that the transaction is accretive, adds an additional growth driver, demonstrates NSA's ability to further grow its platform and could eventually lead to a unified brand. Combined with positive takeaways following our recent HQ visit and the 14% pullback in the stock since its 52-week high, we are upgrading NSA to Buy from Hold."
Shares of National Storage Affiliates Trust closed at $19.76 yesterday.
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