Vornado Realty’s Strong Growth Prospects Amid Stock Decline: Buy Rating Affirmed
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John Kim from BMO Capital maintains a Buy rating on Vornado Realty with a $42.00 price target, citing strong tenant demand and growth prospects. Despite a 15.7% stock decline this year, Vornado benefits from robust tenant interest and rising rents, particularly in the PENN District. The district's strategic location and $2.5 billion improvements drive positive outlooks, with significant leasing activity, including Apple Music and TV's expansion, highlighting demand.
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