On Tuesday, Goldman Sachs announced that it has removed Extra Space Storage, Inc. (EXR
) from its Conviction Buy List.
The firm has maintained a “Buy” rating on EXR, and has lowered the company’s price target from $51 to $50. This price target suggests a 12% upside from the stock’s current price of $43.94.
Analyst Andrew Rosivach commented: “We think the stock is inexpensive on forward 2018E AFFO, but the higher 2014E multiple may require the stock to consolidate.”
Extra Space Storage shares were down 21 cents, or 0.47%, during Tuesday morning trading. The stock is up 21% YTD.
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