tiprankstipranks
Life Storage downgraded to Neutral from Buy at Citi
The Fly

Life Storage downgraded to Neutral from Buy at Citi

Citi analyst Smedes Rose downgraded Life Storage (LSI) to Neutral from Buy with an unchanged price target of $126. While timeline and tenor of takeover negotiations with Public Storage (PSA) remain uncertain, there could eventually be a higher offer price from here, but believe upside in Life Storage shares "is likely to be limited for now," the analyst tells investors in a research note. Citi thinks there could be meaningful longer-term upside to a combination of the two entities and would encourage management to enter constructive negotiations. It downgraded Life Storage on valuation following the recent rally.

Published first on TheFly

See Insiders’ Hot Stocks on TipRanks >>

Read More on LSI:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles