Barclays Starts Simon Property Group (SPG) at Equalweight

Barclays analyst Richard Hightower initiates coverage on Simon Property Group (NYSE: SPG) with a Equalweight rating and a price target of $170.00.

The analyst comments: "We initiate on SPG at Equal Weight with a 12-month price target of $170. The company owns some of the most productive retail real estate assets globally, with high retailer sales and growing rents, and has a very strong multi-decade track record of accretive capital deployment. Nevertheless, the headwinds within the apparel-dominated mall sector are real; we expect pressure on SPG's valuation until we see a favorable resolution (one hopes) on tariffs specifically. All combined, we believe the shares are fairly valued at current levels."

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 $164.27 yesterday.

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