Vornado price target raised to $46 from $44 at Piper Sandler

Piper Sandler analyst Alexander Goldfarb raised the firm’s price target on Vornado (VNO) to $46 from $44 and keeps a Neutral rating on the shares. The firm sees the pre-election transaction pause giving way to a resumption of decision-making, whether leasing, capital markets, fund-raising, etc. Piper believes the direction of interest rates remains critical.