UPDATE: Jefferies Lowers PT on Public Storage on Limited Upside

In a report published Thursday, Jefferies analyst Omotayo Okusanya reiterated a Hold rating on Public Storage PSA, but lowered the price target from $165.00 to $160.00. In the report, Jefferies noted, “We see limited upside in PSA's shares in the near-term despite solid results in 2Q13, given: 1) the portfolio is essentially fully occupied at 94.9% as of June 30, 2013; and 2) due to PSA's size, it is harder to grow earnings via acquisitions. We are lowering our PT to $160 due to rising interest rates and maintain our Hold Rating.” Public Storage closed on Wednesday at $152.55.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsJefferiesOmotayo Okusanya
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!