The Globe and Mail reports in its Friday, Oct. 24, edition that TD Cowen analyst Jonathan Kelcher raised his Storagevault Canada share target to $6 from $5.50 with an unchanged "buy" recommendation. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $5.45. Mr. Kelcher says in a note: "We think the second consecutive quarter of 5-per-cent-plus SPNOI [same-property net operating income] growth offsets the miss to our (arguably aggressive) Q3 AFFO estimate (cons appears to be closer to the 7.5-per-cent reported growth). Fundamentals are holding steady/improving with leads up year-over-year and housing activity beginning to pick up. Despite approximately 5 per cent lower estimates, our target price increases to $6 from $5.50 as we roll forward the valuation to 2027." The Globe reported on July 25 that Desjardins Securities analyst Lorne Kalmar rated Storagevault "buy." It was then worth $4.66. The Globe reported on Aug. 28 that BMO Capital analyst Tom Callaghan had commenced coverage on Storagevault Canada with an "outperform" recommendation. It was then worth $4.70.
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