BMO Capital downgraded CubeSmart to Market Perform from Outperform with a price target of $52, down from $54. Heading into earnings, channel checks suggest weaker storage demand, the analyst tells investors in a research note. Given CubeSmart’s strong year-to-date share performance, the firm sees risks given the company’s higher relative guidance versus peers in a moderating environment with its greater localized supply exposure. It views a takeover as unlikely, but think it provides downside support.
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Published first on TheFly
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