NEW YORK (TheStreet) -- Sovran Self Storage (SSS) shares are up 1.05% to $90.81 in early market trading on Friday after the real estate investment trust had its rating upgraded to "buy" from "neutral" by analysts at UBS before the opening bell today.
The Williamsville, NY-based company's price target was also raised to $100 from $96, representing a potential 11.3% upside from the stock's previous closing price.
Analysts at the firm said that Sovran is still currently trading at a discount even as the consensus estimates for the company's outlook are set to move higher in the coming weeks.
The company last reported its quarterly financial results two weeks ago, matching analysts earnings and revenue expectations of $1.09 per diluted share on $85.4 million in revenue. The company also said it expects full year operational earnings to be between $4.79 and $4.85 per share.
TheStreet Ratings team rates SOVRAN SELF STORAGE INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate SOVRAN SELF STORAGE INC (SSS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."