HomeFinance NewsJefferies recommends buying under-the-radar storage stock with 40% upside.

Jefferies recommends buying under-the-radar storage stock with 40% upside.

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Jefferies recently initiated coverage of Janus International, a small cap company in the storage sector, with a buy rating and a price target of $20 per share, indicating a potential 42% upside from the current price. Despite being undervalued and flying under the radar compared to its peers, Janus International has seen a steady rise in its stock price in 2024. The company specializes in manufacturing doors for self-storage units, as well as providing restoration services for older facilities and a keyless entry system called Nokē.

Analyst Philip Ng highlighted Janus International’s strong pricing power and unique position as the only national player offering a full-service solution in the self-storage industry. Ng expressed confidence in the company’s potential for growth, especially as pandemic-related construction delays subside and interest rates decrease, leading to increased demand for storage capacity. With a focus on innovation and meeting the high occupancy rates in the self-storage market, Janus International is poised to outpace its competitors and attract investor attention in the coming months.

Overall, Janus International’s strong fundamentals and unique offerings position it for success in the storage sector. As the company continues to capitalize on its pricing power and national presence, coupled with improving market conditions, it is well positioned to deliver value to shareholders and potentially see further appreciation in its stock price. Investors may want to take a closer look at Janus International as it emerges as a promising player in the self-storage industry.

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