UPDATE: Jefferies Upgrades SL Green Realty Corp. to Buy, Raises PT to Buy, Raises PT on Attractive Valuation

In a report published Monday, Jefferies analyst Omotayo Okusanya upgraded the rating on

from Hold to Buy, and raised the price target from $130.00 to $142.00. In the report, Jefferies noted, “We are upgrading shares of SLG to Buy from Hold to reflect improving fundamentals in NYC that should help lift SSNOI growth for the company, as well as a very robust development pipeline. Moreover, we find shares trade at a very attractive valuation relative to the other CBD office REITs. For more details please see our 2015 REIT outlook.” SL Green Realty Corp. closed on Friday at $125.20.