CubeSmart price target raised to $46 from $42 at Wells Fargo

Wells Fargo analyst Eric Luebchow raised the firm’s price target on CubeSmart to $46 from $42 and keeps an Equal Weight rating on the shares ahead of the Q1 report. An improvement in February home sales and inventories was a bright spot for the storage space, but mortgage rates moving higher signals a recovery is more likely later in 2024 after spring leasing season, the analyst tells investors in a research note.