While Fools should generally take the opinion of Wall Street with a grain of salt, it's not a bad idea to take a closer look at particularly stock-shaking upgrades and downgrades -- just in case their reasoning behind the call makes sense.

What: Goldman Sachs resumed coverage on commercial REIT Vornado Realty Trust (NYSE:VNO)with a conviction buy rating yesterday, suggesting that today's sluggishness might offer a decent entry point.

So what: Along with the bullish call, analyst Brad Burke planted a price target of $115 on the stock, representing about 16% worth of upside to yesterday's close. While contrarians might be turned off by Vornado's price strength over the past six months, Burke thinks there's more room to run given the several positive catalysts still ahead for the company.

Now what: According to Goldman, Vornado's risk/reward trade-off is pretty attractive at this point. "Our positive view is based in part on improvement against easy comps; JC Penney is sold, [Toys R Us] is being ascribed little to no market value, and [Washington, D.C. office portfolio] appears to be at a bottom," said Burke. "An attractive pipeline of development/redevelopment, funded in part by sales of non-core assets, has the dual impact of growing FFO while focusing the portfolio." When you couple that favorable outlook with Vornado's still-juicy dividend yield of 3%, it's tough to disagree with Goldman's ultra-bullish call.

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Brian Pacampara has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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