Stifel analyst Simon Yarmak raised the firm’s price target on Simon Property to $139 from $130 and keeps a Buy rating on the shares. The lack of clarity surrounding Other Platform Investments valuation and earnings drivers has weighed on the stock’s multiple, but the firm is hopeful that the recent price point for Authentic Brands Group helps investors grow more comfortable with this business segment, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SPG:
- AmEx downgraded, Keurig Dr Pepper upgraded: Wall Street’s top analyst calls
- Wolfe upgrades ‘cash engine’ Simon Property to Outperform
- Simon Property upgraded to Outperform from Peer Perform at Wolfe Research
- Time to buy real estate stocks as bargains abound, Barron’s says
- Simon Property Group Stock (NYSE:SPG): 7% Yield, and Dividends Keep Rising