Vornado Realty Trust Upgraded to “Buy” at Citigroup (VNO)
On Wednesday analysts at Citigroup upgraded real estate investment trust Vornado Realty Trust (VNO).
The analysts upgraded VNO to “Buy” from “Neutral” with a price target of $85. The target is a +13.3% upside to Tuesday’s closing price of $74.98.
Citigroup said it believes VNO is in a position to improve as the stock’s value is overly discounted.
Vornado shares were flat in premarket trading on Wednesday. The stock is -2.45% year-to-date.
The Bottom Line
Shares of Vornado Realty Group (VNO) have a 3.68% dividend yield, based on last night’s closing stock price of $74.98. The stock has technical support in the $71-$72 price area. If the shares can firm up, we see overhead resistance around the $80 price level.
Vornado Realty Trust (VNO) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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