Truist analyst Michael Lewis raised the firm’s price target on SL Green Realty (SLG) to $58 from $54 and keeps a Hold rating on the shares. Management made several “excellent” points on Thursday’s conference call, including how SL Green is positioned with diverse earnings streams, the analyst tells investors in a research note. The stock has potential catalysts as it pursues a Times Square casino license, brings the Summit concept to new markets, and invests the newly raised debt fund, but Truist is cautious regarding office fundamentals and thinks the stock appears fairly valued.
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