Simon Property price target raised to $139 from $128 at Truist

Truist raised the firm’s price target on Simon Property to $139 from $128 and keeps a Hold rating on the shares as part of a broader research note on REITs. The firm is relatively bullish on the sector following a challenging 2023 that was mired by volatile inflationary environment and believes that REITs should benefit from a favorable backdrop of improved cost of capital environment, liquidity and attractive valuation levels, the analyst tells investors in a research note. Truist adds however that it remains neutral on the stock due to its balanced risk/reward profile.