Market Overview

UPDATE: JP Morgan Upgrades Vornado Realty Trust to Overweight on Sentiment Turnaround

Share:
Related VNO
Benzinga's Top Upgrades, Downgrades For October 10, 2017
How The Toys R Us Bankruptcy Will Be Different From KB Toys
Vornado Realty Trust: This 5.25% Preferred Stock Started Trading On The NYSE (Seeking Alpha)

JP Morgan upgraded Vornado Realty Trust (NYSE: VNO) from Neutral to Overweight and maintained a $95.00 price target.

JP Morgan noted, "Sentiment on the company has been negative for some time, but we think it's time for investors to take a look at the name, as management has done a good job of executing on asset sales/simplification, and it no longer trades at a premium to the peer group. Headline challenges do remain, to be sure, such as the so-far poor investment in JCP and inability to move forward with monetizing its Toys-R-Us investment, but the potential for acquisitions and projects like 220 CPS could offset."

Vornado Realty Trust closed at $82.73 on Tuesday.

Latest Ratings for VNO

DateFirmActionFromTo
Dec 2017JP MorganDowngradesOverweightNeutral
Dec 2017Evercore ISI GroupDowngradesOutperformIn-Line
Oct 2017Morgan StanleyUpgradesEqual-WeightOverweight

View More Analyst Ratings for VNO
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (VNO)

View Comments and Join the Discussion!