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In a report published Thursday, Morgan Stanley analyst Vance H. Edelson initiated coverage on
SL Green Realty Corp.SLG with an Equal-Weight rating.
In the report, Morgan Stanley noted, “As a near pure play on Manhattan office, SLG will benefit from the growing tenant demand suggested by our broker survey. Mark-to-market leasing helps drive FFO up 15% by 2015. But with shares up 20% YTD vs. -1% for the RMZ and fewer acquisitions to create value, we await a better entry point.”
SL Green Realty Corp. closed on Wednesday at $91.50.
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