In a report released today, John Kim from BMO Capital maintained a Buy rating on Vornado Realty, with a price target of $42.00.
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John Kim has given his Buy rating due to a combination of factors that point to improving fundamentals and attractive strategic positioning. He highlights the notable rebound in New York office leasing, with higher occupancy and strong cash rent spreads, and notes that the negative impact from specific lease resets should fade over the coming quarters, supporting a recovery in same-store performance.
He also points to active capital deployment and validation from high-profile partners as reinforcing the investment case. Share repurchases signal management’s confidence in intrinsic value, while the structure of the 350 Park Avenue joint venture limits Vornado’s risk exposure yet preserves meaningful upside in a property that could command top-tier rents, all of which underpin his positive view on the stock’s risk‑reward profile.
According to TipRanks, Kim is an analyst with an average return of -1.2% and a 45.86% success rate. Kim covers the Real Estate sector, focusing on stocks such as Cousins Properties, Kilroy Realty, and Vornado Realty.