Evercore ISI analyst Steve Sakwa lowered the firm’s price target on Vornado (VNO) to $43 from $46 and keeps an Outperform rating on the shares. Vornado’s recent quarter highlights strong leasing activity and promising future development opportunities, the analyst tells investors in a research note. The firm added that despite a slight dip in the target price, the outlook remains optimistic due to the resilience of Manhattan’s office market.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VNO: