Evercore ISI downgraded Simon Property (SPG) to In Line from Outperform with a price target of $187, up from $183. The stock is up 10% year-to-date the firm’s new price target implies limited potential upside, the analyst tells investors in a broader REIT note in which the analyst also rolled forward models to incorporate the firm’s 2027 AFFO estimates into its price target framework.
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