Truist analyst Michael Lewis lowered the firm’s price target on Vornado (VNO) to $28 from $29 and keeps a Hold rating on the shares as part of a broader research note on REITs updating the firm’s estimates ahead of Q1 results. For Vornado, the firm says its update is largely to more accurately reflect seasonality in signage revenue and other items, the analyst tells investors in a research note.
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