UBS Cuts Vornado to “Neutral”; No Near-Term Catalysts (VNO)

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Office and retail properties REIT Vornado Realty Trust ( VNO ) caught a big downgrade from analysts at UBS on Monday.

The firm said it cut its rating on VNO from "Buy" to "Neutral" while lowering its price target from $93 to $85. That new target suggests just a 4% upside to the stock's Friday closing price of $81.81.

UBS made the move due to a lack of near-term catalysts as well as what it called an "overly complicated story."

Vornado shares were unchanged in premarket trading Monday.

The Bottom Line
Shares of Vornado Realty Trust ( VNO ) have a 3.37% dividend yield, based on Friday's closing stock price of $81.81. The stock has technical support in the $75-$80 price area. If the shares can firm up, we see overhead resistance around the $85-$87 price levels.

Vornado Realty Trust ( VNO ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks


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