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Fly News Breaks for March 14, 2018
VNO
Mar 14, 2018 | 08:25 EDT
Argus analyst Jacob Kilstein lowered his price target on Vornado to $76 but kept his Buy rating. Kilstein notes that while the company is facing oversupply pressure in New York office/retail segment, solid demand will allow the company to raise its rental rates. The analyst adds that although the REIT sector is facing the risk of higher interest rates, the recent pullback in the stock price warrants his continued bullish view.
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