Goldman Sachs analyst Caitlin Burrows raised the firm’s price target on Public Storage to $377 from $343 and keeps a Buy rating on the shares. The firm believes that the stock’s outperformance “can continue” as 2024 move-in rate comps are low and the housing market – a storage demand driver – is set to improve, the analyst tells investors in a research note. This should help same-store revenue growth to improve and for earnings growth to move from down 0.7% this year to 3.7% and 5.4% in 2025 and 2026 respectively, Goldman Sachs added.
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