SL Green Realty price target raised to $79 from $67 at Evercore ISI

Evercore ISI analyst Steve Sakwa raised the firm’s price target on SL Green Realty (SLG) to $79 from $67 and keeps an In Line rating on the shares. Following the company’s Q3 report and its conference call Thursday afternoon, the firm made a number of adjustments to its model, which lowered its FY24 FFO estimate slightly to $7.64 from $7.72. The firm, which also noted that its FY25 FFO estimate slipped “slightly,” increased its net asset value estimate with a lower overall cap rate and higher One Vanderbilt and One Madison valuations, which lifts its price target