As previously reported, BofA analyst Jeffrey Spector upgraded Extra Space Storage (EXR) to Neutral from Underperform with a price target of $155, up from $141. The firm has a more positive view on the self storage sector versus other sectors that are more vulnerable to macro risk and “corporate paralysis,” the analyst tells investors. The firm believes Extra Space will benefit from its single brand initiative, where LSI facilities are rebranded as Extra, plus it expects cost savings to continue in 2025, the analyst added.
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