Jefferies Boosts Price Target on Simon Property (SPG) to $150
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Price: $219.53 -0.46%
Rating Summary:
13 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 23 | New: 12
Rating Summary:
13 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 23 | New: 12
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Jefferies raised its price target on Simon Property Group (NYSE: SPG) from $140 to $150 while maintaining its Buy rating.
The firm comments, "4Q11 results and 2012 earnings guidance show that REITs which own Class A malls are delivering better results versus the rest of the Mall sector. That said, premium valuations reflect the strong outlook for these REITs. As such, we are selective within the group. We are upgrading Macerich (NYSE: MAC) to a Buy, from Hold as we believe it is an attractive way to play this thesis on a risk adjusted basis."
The firm trimmed FY12 EPS from $7.32 to $7.26.
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 $138.22 yesterday.
The firm comments, "4Q11 results and 2012 earnings guidance show that REITs which own Class A malls are delivering better results versus the rest of the Mall sector. That said, premium valuations reflect the strong outlook for these REITs. As such, we are selective within the group. We are upgrading Macerich (NYSE: MAC) to a Buy, from Hold as we believe it is an attractive way to play this thesis on a risk adjusted basis."
The firm trimmed FY12 EPS from $7.32 to $7.26.
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 $138.22 yesterday.
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