Wolfe upgrades CubeSmart to Outperform on potential for growth acceleration

As previously reported, Wolfe Research upgraded CubeSmart (CUBE) to Outperform from Peer Perform with a $48 price target as coverage of the stock was assumed. The analyst thinks a lower supply environment, combined with a moving velocity that is near trough, creates the potential for growth acceleration. Self-storage has faced a “double whammy” of higher supply combined with a less mobile population and the the former condition is gradually improving, though not completely gone, while the latter may not, but “arguably cannot get much worse,” the analyst tells investors.

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Disclaimer & DisclosureReport an Issue

• CubeSmart price target raised to $48 from $47 at Truist

• CubeSmart upgraded to Outperform from Peer Perform at Wolfe Research

• CubeSmart price target lowered to $48 from $49 at Barclays

• CubeSmart upgraded to Buy from Neutral at BofA

• CubeSmart price target raised to $45 from $40 at Scotiabank