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UPDATE: Citigroup Reiterates on Vornado Realty Trust Following Model Update

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In a report published Thursday, Citigroup analyst Michael Bilerman reiterated a Buy rating on Vornado Realty Trust (NYSE: VNO), and raised the price target from $91.00 to $100.00.

In the report, Citigroup noted, “We rate shares of VNO Buy. Vornado's portfolio is concentrated in New York and Washington D.C., two key office markets in the United States. The company's portfolio and operating platforms are of high quality. The balance sheet is also strong and liquid. We believe Vornado has one of the most experienced and sophisticated management teams in the REIT industry. We find the shares attractively valued, with several sources of potential upside over time.”

Vornado Realty Trust closed on Wednesday at $88.45.

Latest Ratings for VNO

DateFirmActionFromTo
Apr 2019MaintainsHoldHold
Dec 2018DowngradesNeutralUnderweight
Dec 2018DowngradesBuyHold

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Posted-In: Citigroup Michael BilermanAnalyst Color Price Target Analyst Ratings

 

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ETF Outlook for Thursday, November 21, 2013