As previously reported, Scotiabank analyst Nicholas Yulico upgraded SL Green Realty to Sector Perform from Underperform with a price target of $53, up from $43. Midtown New York City has been a more active office market than others in the analyst’s coverage and the firm expects continued leasing progress will support valuation and sentiment on the stock, the analyst tells investors. However, a valuation premium to office REIT peers and higher leverage keeps the firm from being more positive on the stock, the analyst added.
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