Safehold price target raised to $28 from $25 at Goldman Sachs

Goldman Sachs analyst Caitlin Burrows raised the firm’s price target on Safehold (SAFE) to $28 from $25 and keeps a Buy rating on the shares. The firm is updating its model following the company’s Q3 earnings beat. Goldman Sachs is also assuming a consistent – and slowly increasing – volume of funded ground leases, increasing interest expense, lower interest income, and somewhat higher operating expenses are headwinds, the analyst tells investors in a research note.