Exane BNP Paribas cuts Shurgard Self Storage to 'underperform' on cautious trading outlook in France

Shurgard Self Storage

11/12/2024 09:05

** Exane BNP Paribas cuts Shurgard Self Storage  SHUR.BR  to
"underperform", with a TP of 36 euros ($37.83), on a more
cautious trading outlook in France and near-term cyclical
recovery
    ** The broker says that negative wealth effects in France,
as a result of falling house prices, is "likely to contribute to
softer trading"
    ** It adds the downgrade "reflects expectations of same
store revenue growth moderation in FY25, potential undershoot
Lok'nStore occupancy ramp up targets and relative value vs
peers"
    ** Shurgard Self Storage's shares are down 1.7% at 09:01
GMT, pares losses after falling as much as 2.1%
    ** Out of 16 analysts that cover Shurgard Self Storage Ltd,
six rate the stock "strong buy" or "buy", ​nine rate "hold" and
one rates the stock "strong sell"​​



($1 = 0.9517 euros)

 (Reporting by Anna Peverieri)
 ((Anna.peverieri@thomsonreuters.com))