Simon Property (SPG) Stock Might Consolidate Near-Term

February 5, 2013 10:28 AM EST Send to a Friend
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Price: $183.53 -1.05%

Rating Summary:
    12 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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Imperial Capital today reiterated an In-Line rating on Simon Property Group (NYSE: SPG) and raised its price target to $168.00 (from $160.00). Yesterday the company reported Q4 results, with adjusted FFO coming in at $2.29 per share, topping estimates.

Commenting on the news, analyst David Harris of imperial Capital said, "After SPG's strong 4Q earnings report with its now customary earnings beat, conservative forward earnings guidance, and increased quarterly dividend pay-out, our thinking is not altered."

Harris warned that Simon Property Group's common stock has performed strongly and he thinks it may be due for a correction or period of consolidation.

For an analyst ratings summary and ratings history on Simon Property Group (NYSE: SPG) click here. For more ratings news on Simon Property Group click here.

Shares of Simon Property Group closed at $162.51 yesterday.


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