Wells Fargo upgraded Public Storage to Overweight from Equal Weight with a price target of $310, up from $280. The firm calls Public Storage its top idea in storage. The company is best positioned to navigate an uncertain housing and demand environment, with industry-leading growth metrics likely to sustain through 2024, the analyst tells investors in a research note. Wells believes the stock offers the best risk/reward in self storage, saying its same-store growth is likely to outperform peers near term.
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