Australia's Abacus Storage King extends gain as Citi hikes PT after sweetened bid

Abacus Storage King

15/07/2025 01:18

** Shares of Abacus Storage King ASK.AX up 0.3% after soaring 7% in the previous session

** The self-storage firm receives sweetened takeover bid from a consortium that includes Public Storage PSA.N

** New bid of A$1.65/share represents nearly 15% premium to initial offer

** Citi hikes price target to A$1.73 from A$1.40, rates "buy"; says PT hike reflects revalued net tangible asset value, upgraded offer

** Two of six analysts rate stock "buy" or higher, rest "hold"; their median PT is A$1.55, per LSEG-compiled data

** YTD, shares up 38.7%

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com;))