Site Centers price target raised to $57 from $56 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Site Centers (SITC) to $57 from $56 and keeps an Equal Weight rating on the shares. The Curbline Properties (CURB) spinoff expected October 1 may unlock value for shareholders and the firm is “positively inclined given management’s track record,” the analyst tells investors. The firm sees a Site standalone value of $20 and a Curbline value range of $15-$22, stating that while a spinoff may help unlock value, this may already be reflected at the current share price.