Tanger Factory Outlet Centers (SKT) PT Lowered to $41 at Jefferies

Jefferies lowered its price target on Tanger Factory Outlet Centers (NYSE: SKT) to $41.00 (from $42.00) while maintaining a Buy rating.

Analyst Omotayo Okusanya commented, "We are adjusting our 2017 & 2018 estimates due to updated management, leasing & development fee assumptions. We also are lowering projected JV income to properly reflect the consolidation of the Savannah outlet. Our 2017/2018 FFO/sh estimates go to $2.45/$2.58, from $2.49/$2.62. We are also Lowering our PT to $41, from $42."

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