Scotiabank analyst Nicholas Yulico raised the firm’s price target on SL Green Realty to $43 from $40 and keeps an Underperform rating on the shares. The firm maintains a cautious view on the Office subsector given the uncertain financing/valuation environment, the analyst tells investors. Additionally, Scotiabank remains cautious on SL Green Realty because its current valuation premium does not reflect the higher-leverage balance sheet.
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