UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Extra Space Storage

In a report published Friday, Jefferies & Company reiterated its Hold rating on Extra Space Storage

, and raised its price target from $37.00 to $40.00. Jefferies noted, “EXR held a dinner for sell-side analysts on 01/16. We left the event incrementally positive on the name. While there are some headwinds in regards to tougher year-over-year comps, it appears revenue growth could be better than we expected. We are raising our 2013E FFO/sh to $1.86 from $1.82 and raising our PT to $40 from $37.” Extra Space Storage closed on Thursday at $38.17.