Jefferies Upgrades CubeSmart: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Jefferies has upgraded its rating of CubeSmart (NYSE:CUBE) to Buy and increased the price target from $38.00 to $53.00. CubeSmart's shares have risen 2.07% in the last 24 hours to $47.31. The new price target suggests a potential upside of 12.03%. CubeSmart is a REIT focusing on self-storage facilities, with a significant presence in Florida, Texas, California, New York, and Illinois, deriving most revenue from rental income.
January 02, 2024 | 5:00 pm
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Jefferies upgraded CubeSmart to Buy and raised the price target to $53, indicating a potential 12.03% increase from the current price.
The upgrade by Jefferies to a Buy rating and the significant increase in price target are strong positive signals for investors, suggesting analyst confidence in CubeSmart's future performance. This could lead to increased investor interest and a potential short-term rise in the stock price, especially as the shares have already shown positive movement in the last 24 hours.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100