BMO Capital Upgrades CubeSmart: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
BMO Capital has upgraded its rating of CubeSmart (NYSE:CUBE) to Outperform with a new price target of $49.00, up from the previous $46.00. CubeSmart's shares are currently trading up 0.99% at $45.92. The new price target suggests a potential upside of 6.71%. CubeSmart is a REIT specializing in self-storage facilities, with a significant presence in Florida, Texas, California, New York, and Illinois, deriving most of its revenue from rental income.
December 15, 2023 | 5:00 pm
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BMO Capital has upgraded CubeSmart's rating to Outperform and raised the price target from $46.00 to $49.00, indicating a potential upside of 6.71% from the current trading price.
Analyst upgrades generally lead to positive short-term price movement as they reflect a positive change in the analyst's view of the company's future performance. The increase in the price target further reinforces the positive outlook, suggesting that the stock has room to grow. Given that the upgrade is from a reputable financial institution and the stock is already responding positively, there is a high likelihood of continued upward momentum in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100