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Fly News Breaks for September 6, 2019
ESRT
Sep 6, 2019 | 05:43 EDT
BMO Capital analyst John Kim downgraded Empire State Realty Trust to Market Perform from Outperform and lowered his price target for the shares to $15 from $19. The analyst reduced his valuation and return expectation for Empire State, given increased competition for the Empire State Observatory, which he says has gone through a $160M renovation program that improves the experience, "but only to a modest degree."
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