SL Green Realty price target raised to $55 from $47 at Truist

Truist raised the firm’s price target on SL Green Realty to $55 from $47 and keeps a Hold rating on the shares. The firm is adjusting its model while claiming that it has underestimated the company’s fee and ancillary income streams as these can be lumpy quarter to quarter, even if relatively reliable over time, the analyst tells investors in a research note. The stock has also firmly re-rated closer to where it traded pre-pandemic, which is a credit to SL Green’s management’s strategy, tenacity and successful execution in a challenging environment, Truist added.