Empire State Realty price target raised to $12 from $11 at BMO Capital

BMO Capital raised the firm’s price target on Empire State Realty to $12 from $11 and keeps an Outperform rating on the shares after hosting the company’s President, Christina Chiu, for investor meetins. The firm is positive on Chiu’s imprint on the company, adjusting its model to reflect higher assumed growth in FY25 from the Observatory along with the impact of lower interest rates, the analyst tells investors in a research note.