Simon Property Group (SPG) PT Raised to $186 at Evercore ISI

Evercore ISI analyst Steve Sakwa raised the price target on Simon Property Group (NYSE: SPG) to $186.00 (from $172.00) while maintaining a Outperform rating.

The analyst comments "Bottom Line Takeaway: Similar to other retail REITs, SPG outperformed Monday on news of a substantial reduction (at least temporarily) in Chinese tariffs which provided some short-term relief for retailers amid the uncertainty caused by the trade wars. While the situation remains fluid and we retain our conservative underwriting assumptions, we believe that SPG’s scale and platform, effective capital allocation and continued leasing execution sets them apart."

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