Wells Fargo raised the firm’s price target on Extra Space Storage to $120 from $115 and keeps an Underweight rating on the shares. Extra Space Storage’s Q3 earnings were largely better than expected, but the stock reaction on November 8 was overdone, the analyst tells investors in a research note. Wells sees risks to the 2024 outlook, even though the company’s same-store comps look more favorable after the earnings report.
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