Vornado price target raised to $44 from $30 at Piper Sandler

Piper Sandler raised the firm’s price target on Vornado (VNO) to $44 from $30 and keeps a Neutral rating on the shares. The firm is maintaining its 2024 FFO of $2.23, increasing its 2025 by 1c to $1.99, and raising its 2026 by 5c to $2.18. Piper’s revised estimates incorporate continued leasing momentum via improving occupancy and rent growth.