Australia's Abacus Storage King extends gain as Citi hikes PT after sweetened bid
ReutersJul 15, 2025 12:18 AM
Shares of Abacus Storage King ASK.AX up 0.3% after soaring 7% in the previous session
The self-storage firm receives sweetened takeover bid from a consortium that includes Public Storage PSA.N
New bid of A$1.65/share represents nearly 15% premium to initial offer
Citi hikes price target to A$1.73 from A$1.40, rates "buy"; says PT hike reflects revalued net tangible asset value, upgraded offer
Two of six analysts rate stock "buy" or higher, rest "hold"; their median PT is A$1.55, per LSEG-compiled data
YTD, shares up 38.7%
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