Vornado price target raised to $24 from $18 at BofA

BofA analyst Camille Bonnel raised the firm’s price target on Vornado to $24 from $18 and keeps a Neutral rating on the shares as part of a broader note on the Office REIT group. The firm continues to recommend quality REITs with strong balance sheets, particularly in the office subsector, where banks have tightened lending.