Jefferies analyst Jonathan Petersen lowered the firm’s price target on Extra Space Storage to $175 from $198 and keeps a Buy rating on the shares. The firm is “cautiously positive” on the self storage sector into 2025. It expects initial outlooks will be conservative, so Jefferies believes “there is no rush to buy ahead of the quarter.” However, any recovery in the housing market in 2025 will be met by renewed storage demand and upward revisions to guidance and estimates, the analyst tells investors in a research note. The firm sees Extra Space Storage (EXR) and National Storage Affiliates Trust (NSA) as uniquely positioned to drive earnings.
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Read More on EXR:
- Extra Space Storage price target lowered to $167 from $173 at RBC Capital
- Extra Space Storage price target raised to $168 from $167 at Truist
- Extra Space Storage price target lowered to $167 from $169 at Scotiabank
- Extra Space Storage announces $1B commercial paper note program
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
