Evercore ISI analyst Steve Sakwa raised the firm’s price target on Simon Property to $123 from $122 and keeps an In Line rating on the shares. The firm is rolling forward its valuation framework in its real estate coverage to capture an additional year of earnings growth, rolling forward its AFFO estimates from 2024 to 2025 and adjusting its price targets accordingly.
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Read More on SPG:
- Simon Property upgraded to Conviction Buy from Buy at Goldman Sachs
- Simon Property price target lowered to $130 from $139 at Stifel
- Simon® Reports Third Quarter 2023 Results and Increases Full Year 2023 Guidance
- Simon Property raises FY23 FFO view to $12.15-$12.25 from $11.85-$11.95
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