Janus initiated with a Buy at Jefferies

Jefferies analyst Philip Ng initiated coverage of Janus with a Buy rating and $20 price target. The company is “under the radar,” with the stock undervalued for a quality small-cap growth name, the analyst tells investors in a research note. The firm says storage occupancy rates are now above mid-cycle, which is driving demand for new capacity. It sees Janus outpacing the market as Noke becomes more standard.