Cantor Fitzgerald Upgrades Public Storage (PSA) to Hold

Cantor Fitzgerald upgraded Public Storage (NYSE: PSA) from Sell to Hold with a price target of $143.50.

The firm comments: "The incrementally more positive view on the stock is driven in large part by YTD underperformance of 7.5% (versus the RMZ). We now view the stock to be trading near fair value and could become more positive at $134 and below (as the return moves into our BUY range), barring any exogenous changes. We increasingly like the name as markets steer into 1) renewed macro choppiness, 2) a slow-motion housing recovery, and 3) a stable consumer and/or employment outlook. This upgrade shifts our position on storage to neutral from underweight."

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 $136.88 yesterday.

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