Self Storage sector upgraded to Overweight at Wells Fargo Wells Fargo upgraded the Self Storage REIT group to Overweight from Market Weight citing a favorable macro-economic backdrop and expectations for continued outperformance in 2013. Wells upgraded shares of Extra Space Storage (EXR) and Sovran Self Storage (SSS) to Outperform from Market Perform, and keeps an Outperform rating on CubeSmart (CUBE) and Market Perform rating on Public Storage (PSA).
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Aspen Technology (AZPN) upgraded to Overweight from Sector Weight at Pacific Crest... Canadian National (CNI) upgraded to Outperform from Sector Perform at Scotia Capital... Connecticut Water (CTWS) upgraded to Outperform from Market Perform at Wells Fargo... Hanesbrands (HBI) upgraded to Buy from Neutral at DA Davidson... Impala Platinum (IMPUY) upgraded to Buy from Neutral at Goldman... Inovalon (INOV) upgraded to Buy from Neutral at Goldman... J.C. Penney (JCP) upgraded to Market Perform at BMO Capital... Sovran Self Storage (SSS) upgraded to Buy from Neutral at UBS... Syngenta (SYT) upgraded to Neutral from Underperform at Exane BNP Paribas... UPS (UPS) upgraded to Buy from Neutral at Goldman... Union Pacific (UNP) upgraded to Buy from Hold at TD Securities... Yum! Brands (YUM) upgraded to Overweight from Neutral at JPMorgan.
Sovran Self Storage upgraded to Buy from Neutral at UBS UBS upgraded Sovran Self Storage to Buy saying shares are trading at a discount while consensus estimates are likely to move higher. The firm raised its price target for shares to $100 from $96.