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Fly News Breaks for May 16, 2016
VNO
May 16, 2016 | 06:25 EDT
Evercore ISI analysts led by Steve Sakwa upgraded Vornado to Buy and increased its price target to $108 from $106. The analyst sees catalysts ahead that include cash income that is set to contribute to the P&L from Q2 thru early 2018 and the upcoming NAREIT conference that will allow management to walk through this substantial NOI increase, which should provide investor comfort in the cash flow ramp.
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