Extra Space Storage shares are trading lower after the company downgraded the stock from Overweight to Equal-Weight and maintained a $175 price target.
Portfolio Pulse from Benzinga Newsdesk
Extra Space Storage shares declined after the company downgraded its stock rating from Overweight to Equal-Weight, while maintaining a $175 price target.
October 21, 2024 | 4:05 pm
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NEGATIVE IMPACT
Extra Space Storage's stock was downgraded from Overweight to Equal-Weight, causing a decline in share price. The price target remains at $175.
The downgrade from Overweight to Equal-Weight suggests a less bullish outlook, which typically leads to a negative short-term impact on the stock price. Maintaining the price target at $175 indicates no expected upside, reinforcing the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100