SL Green Realty rally on asset sale reflection of sentiment, says BMO Capital

BMO Capital analyst John Kim keeps an Outperform rating and $32 price target on SL Green Realty but notes that the 20% spike in the stock price following the announcement of a single asset sale by the REIT is the reflection of the extreme negative sentiment on the stock, the office sector, and commercial transaction markets. The firm adds that while this is the most significant catalyst identified in its recent upgrade of SL Green Realty, there are others.