CubeSmart upgraded to Overweight from Sector Weight at KeyBanc

KeyBanc upgraded CubeSmart (CUBE) to Overweight from Sector Weight with a $47 price target The firm cites the company’s gradually improving operating fundamentals year-to-date, with both occupancy and move-in rent growth demonstrating early signs of stabilization, and “relatively conservative” for the upgrade. CubeSmart also has lower relative exposure to price restrictions in Los Angeles versus its peers, the analyst tells investors in a research note. KeyBanc views the stock’s valuation as attractive at current share levels.