SL Green Realty (SLG) PT Raised to $72 at BMO Capital

BMO Capital analyst John Kim raised the price target on SL Green Realty (NYSE: SLG) to $72.00 (from $58.00) while maintaining a Outperform rating.

The analyst commented, "SLG is getting its mojo back: Office leasing has strong momentum, leading to increased occupancy. SLG's platform, new and existing JVs, and the success of SUMMIT, will likely drive meaningful revenue and EBITDA growth. Near-term JV sales of One Vanderbilt and 245 Park will further reduce leverage and support NAV estimates. We believe an equity raise is on the table, given it would be accretive to earnings and consensus NAV.
We raise our target price to $72 (implying 16.4x 2025 AFFO), driven by our revised NAV estimate of $75.37."

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