BofA raised the firm’s price target on SL Green Realty to $44 from $30 and keeps a Neutral rating on the shares. The firm, which is adjusting its model for announced sales, views deleveraging as key to NAV growth at a time where visibility on valuations remains limited, the analyst tells investors. With shares up 29% over the last three months and downward revisions to estimates, the firm believes the next leg higher will need to be driven by greater deleveraging efforts, the analyst added.
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Read More on SLG:
- SL Green Realty Corp. to Release Fourth Quarter 2023 Financial Results After Market Close on January 24, 2024
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