- Barclays analyst Gaurav Jain upgraded Vector Group Ltd VGR to Equal Weight from Underweight with a price target of $17, up from $13, implying a 1.4% upside.
- The analyst says the Douglas Elliman spinoff will unlock value.
- Jain said while the business is ultimately cyclical, it is unlikely that the downcycle would start in the next few months before the spinoff is completed.
- Price Action: VGR shares are trading higher by 10.2% at $16.77 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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