As previously reported, BofA downgraded Extra Space Storage (EXR) to Underperform from Neutral with a price target of $143, down from $163. The firm sees a lack of “clear green shoots” to support a meaningful demand recovery even though fundamentals bottomed and sees risk of “underwhelming guidance,” noting that management has noted that improved new-customer rate growth will take time to translate into SS revenue.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EXR:
- Extra Space Storage downgraded to Underperform from Neutral at BofA
- Extra Space Storage price target raised to $146 from $142 at Truist
- Extra Space Storage price target lowered to $164 from $169 at Barclays
- Extra Space Storage price target raised to $143 from $137 at Mizuho
- Extra Space Storage downgraded at Scotiabank on delayed recovery