Janus price target lowered to $11 from $13 at KeyBanc
The Fly

Janus price target lowered to $11 from $13 at KeyBanc

KeyBanc analyst Jeffrey Hammond lowered the firm’s price target on Janus (JBI) to $11 from $13 to reflect lower estimates, while keeping an Overweight rating on the shares. Following Janus’ Q3 earnings, although disappointed by the notably weaker Self-Storage fundamentals, the firm feels the stock reaction is overdone and believes the shares are now trading on a trough multiple on trough earnings. As such, it sees the pullback as a buying opportunity given Janus’ solid long-term financial characteristics despite near-term challenges. Additionally, KeyBanc believes recent weakness could open Janus to a takeout at a premium valuation, limiting share downside from here.

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