Vornado price target lowered to $43 from $46 at Evercore ISI

Evercore ISI analyst Steve Sakwa lowered the firm’s price target on Vornado (VNO) to $43 from $46 and keeps an Outperform rating on the shares. Vornado’s recent quarter highlights strong leasing activity and promising future development opportunities, the analyst tells investors in a research note. The firm added that despite a slight dip in the target price, the outlook remains optimistic due to the resilience of Manhattan’s office market.