UPDATE: Goldman Sachs Resumes Coverage on Simon Property Group (SPG) at Buy; Best In Class
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Price: $162.52 --0%
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 8 | New: 17
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 8 | New: 17
Trade SPG Now!
(Updated - July 16, 2012 8:47 AM EDT)
Goldman Sachs resumes coverage on Simon Property Group (NYSE: SPG) with a Conviction Buy List rating. PT $187.00.
Analyst, Andrew Rosivach, said, "We think Simon is a GARP story, with a clear growth profile and a modest valuation premium...Simon will likely provide 2013 guidance on its third quarter conference call in September. We think the market will be positively surprised by the company’s growth potential due to the annualized benefit of 2012 acquisitions and the front-ended strength of the company development pipeline."
"Our 12 month price target of $187.00 assumes SPG will trade at 17.2x 2017E AFFO, which is a 20% premium to the sector, and a valuation we think is merited for a “best in class” REIT."
For an analyst ratings summary and ratings history on Simon Property Group click here. For more ratings news on Simon Property Group click here.
Shares of Simon Property Group closed at $158.56 yesterday, with a 52 week range of $99.60-$159.64.
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Goldman Sachs resumes coverage on Simon Property Group (NYSE: SPG) with a Conviction Buy List rating. PT $187.00.
Analyst, Andrew Rosivach, said, "We think Simon is a GARP story, with a clear growth profile and a modest valuation premium...Simon will likely provide 2013 guidance on its third quarter conference call in September. We think the market will be positively surprised by the company’s growth potential due to the annualized benefit of 2012 acquisitions and the front-ended strength of the company development pipeline."
"Our 12 month price target of $187.00 assumes SPG will trade at 17.2x 2017E AFFO, which is a 20% premium to the sector, and a valuation we think is merited for a “best in class” REIT."
For an analyst ratings summary and ratings history on Simon Property Group click here. For more ratings news on Simon Property Group click here.
Shares of Simon Property Group closed at $158.56 yesterday, with a 52 week range of $99.60-$159.64.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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