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Fly News Breaks for November 11, 2016
VNO
Nov 11, 2016 | 06:25 EDT
BofA/Merrill analyst James Feldman upgraded Vornado to Buy and raised its price target to $114 from $108 citing relative underperformance. He believes the decision to spin DC and partner with JBG will allow management to focus on the New York City platform and notes the Penn Plaza corridor is rapidly improving.
News For VNO From the Last 2 Days
VNO
Mar 26, 2024 | 20:26 EDT
Barclays analyst Brendan Lynch initiated coverage of Vornado with an Underweight rating and $22 price target. The analyst cites the company's concentrated exposure and slow pace of lease-up in the Penn district for the sell rating. The firm says Vornado's leasing volume has been slow and management has pushed back its time frame for stabilization of Penn 2 to 2026. It thinks there could be additional delays.