SL Green Realty price target raised to $62 from $59 at BofA

BofA raised the firm’s price target on SL Green Realty to $62 from $59 and keeps a Neutral rating on the shares. Office REITs delivered seven beats and four meets in Q2 with no misses, recaps the analyst, who notes that the firm makes limited estimate changes for most, except those with West Coast exposure. The firm believes rate cuts will benefit the sector, but will take time to translate into REIT valuations given limited office transaction activity, the analyst added.