UPDATE: BTIG Research Raises PT on iStar Financial on Improved Risk Profile

BTIG Research analyst published a report on iStar Financial SFI that reiterated its Buy rating and raised the price target from $11 to $13. BTIG Research reported that, “We are reiterating our BUY recommendation on iStar Financial (SFI) while increasing our price target to $13 (from $11). Our new price target is based on 0.75x our estimate of the residual value per diluted share available to the equity based on an asset-value analysis.” Shares of iStar Financial closed at $10.78 on Friday.