Vector Group Shares Gain After Barclays Upgrade

Barclays analyst Gaurav Jain upgraded Vector Group Ltd (NYSE:VGR) to Equal Weight from Underweight with a price target of $17, up from $13, implying a 1.4% upside.
The analyst says the Douglas Elliman spinoff will unlock value.
Jain said while the business is ultimately cyclical, it is unlikely that the downcycle would start in the next few months before the spinoff is completed.
Price Action: VGR shares are trading higher by 10.2% at $16.77 on the last check Monday.