Truist analyst Michael Lewis raised the firm’s price target on Simon Property (SPG) to $196 from $181 and keeps a Hold rating on the shares. The firm is also raising its 2026 funds from operations estimate by 1.7% and its 2027 estimate by 2.8%, as Simon Property achieves better net operating income than it previously projected, partially offset by higher interest expense. Despite macroeconomic risks, shopper traffic, tenant sales and tenant demand all appear to be trending positively.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPG:
- Simon Property price target raised to $225 from $219 at BofA
- Simon Property says David Simon resigns from Klepierre S.A. Supervisory Board
- Simon Property price target raised to $219 from $208 at BofA
- Simon Property price target raised to $210 from $198 at JPMorgan
- Simon Property Group Authorizes New $2 Billion Buyback