Simon Property price target raised to $130 from $115 at Deutsche Bank

Deutsche Bank analyst Derek Johnston raised the firm’s price target on Simon Property Group to $130 from $115 and keeps a Buy rating on the shares. Customer traffic data indicates Q4 holiday traffic was relatively even to slightly below a strong 2021, indicative of solid retail sales this season, Johnston tells investors in a research note. The analyst views the data as supportive of occupancy growth and sees a supportive earnings backdrop for Simon Property.