The firm set an initial price target of $114 for the New York City-based real estate investment trust.
Credit Suisse said the company boasts strong development/redevelopment pipeline, but earnings growth should be average going forward given the high NYC office occupancy rates and negative re-leasing spreads.
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"A significant catalyst for the company is its ability to mark up rents in its NYC street retail portfolio, which could push its [net asset value] and earnings significantly higher," said Credit Suisse analyst Ian Weissman.
Separately, TheStreet Ratings team rates VORNADO REALTY TRUST as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate VORNADO REALTY TRUST (VNO) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, good cash flow from operations, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."