Scotiabank has revised its price target for CubeSmart (CUBE, Financial), lowering it from $46 to $40. This decision follows an analysis by the firm's analyst, Daniel Tricarico, who maintains a Sector Perform rating on the stock.
The adjustment comes as Scotiabank anticipates weaker economic performance, which has led to revised forecasts for CubeSmart's funds from operations per share (FFOPS) for fiscal years 2025 and 2026. Despite these lower estimates, the firm projects that the negative impact will remain manageable, even in a potential recession scenario.
