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Fly News Breaks for January 22, 2018
VNO
Jan 22, 2018 | 08:52 EDT
As reported earlier, SunTrust analyst Ki Bin Kim upgraded Vornado to Buy from Hold, but lowered its price target to $85 from $86 as part of his broader "2018 REIT Outlook" research note. Kim says that after 2017 underperformance, the stock looks attractive at a "deep" discount to NAV at 27%. Kim also notes some potential catalysts this year, such as leasing at Hudson Yards and Farley Post Office.
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.