CubeSmart upgraded to Buy at Truist on ‘relatively attractive’ discounted price

As previously reported, Truist upgraded CubeSmart (CUBE) to Buy from Hold with a price target of $47, down from $50. While the pricing environment for self-storage clearly remains challenging, the firm believes fundamentals should turn “noticeably positive” due to sufficiently discounted valuation and sees an opportunity to buy CubeSmart, which it calls a “high quality portfolio at a relatively attractive discount,” which it adds “doesn’t come around too often.”