Safehold price target raised to $31 from $30 at RBC Capital

RBC Capital analyst Kenneth Lee raised the firm’s price target on Safehold (SAFE) to $31 from $30 and keeps an Outperform rating on the shares after its Q3 results. The firm notes that it still sees potential long-term upside to shares from secular growth in the nascent ground lease market, but meanwhile, given the company’s long-duration assets, an interest rate movement lower could also drive share price performance, the analyst tells investors in a research note.