Wells Fargo Upgrades CubeSmart (CUBE) to Outperform; Top Pick in the Space
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Price: $41.14 -0.82%
Rating Summary:
11 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
11 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Wells Fargo upgraded CubeSmart (NYSE: CUBE) from Market Perform to Outperform with a price target range raised from $9-10 to $11-$13.
Wells analyst says, "At this time, we view CUBE as the lone value play within the group and recommend investors build positions in the third-largest REIT at current levels. We view three primary catalysts for relative outperformance: (1) transformation of its portfolio from generally low-barrier markets to high-barrier markets, (2) lowest occupancy in the space offers greatest upside as top public operators are likely reaching cyclical peaks, in our view, and (3) increased investor interest in the self-storage sector-as a result of outsized performance in 2011--that can disproportionately benefit the more attractively valued names in the space, in our view, like CUBE."
For an analyst ratings summary and ratings history on CubeSmart click here. For more ratings news on CubeSmart click here.
Shares of CubeSmart closed at $11.05 yesterday.
Wells analyst says, "At this time, we view CUBE as the lone value play within the group and recommend investors build positions in the third-largest REIT at current levels. We view three primary catalysts for relative outperformance: (1) transformation of its portfolio from generally low-barrier markets to high-barrier markets, (2) lowest occupancy in the space offers greatest upside as top public operators are likely reaching cyclical peaks, in our view, and (3) increased investor interest in the self-storage sector-as a result of outsized performance in 2011--that can disproportionately benefit the more attractively valued names in the space, in our view, like CUBE."
For an analyst ratings summary and ratings history on CubeSmart click here. For more ratings news on CubeSmart click here.
Shares of CubeSmart closed at $11.05 yesterday.
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