CubeSmart upgraded to Outperform from Market Perform at BMO Capital

BMO Capital upgraded CubeSmart to Outperform from Market Perform with a price target of $49, up from $46. The analyst has turned more bullish on storage with the expectation lower rates will drive improved housing mobility. As demand normalizes and improves, lower supply should also help boost growth into 2025, the analyst tells investors in a research note. the firm says CubeSmart’s New York City exposure should help produce more stable near-term performance.