Jefferies Raises Price Target On Public Storage (PSA) to $140 After Q4 Resuls

Jefferies boosted its price target on Hold-rated Public Storage (NYSE: PSA) from $125 to $140 following Q4 results.

The firm comments, "PSA's U.S. portfolio continues to perform very well, driven by strong revenue growth (rising street rates, strong rate increases on existing tenants, sticky occupancy levels) and expense optimization. While we expect strong 2012 performance from this portfolio, we believe economic uncertainty in Europe could dampen near-term performance of PSA's Shurgard Europe portfolio."

For an analyst ratings summary and ratings history on Public Storage click here. For more ratings news on Public Storage click here.

Shares of Public Storage closed at $137.12 yesterday.

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