Simon Property price target raised to $204 from $194 at BofA

BofA raised the firm’s price target on Simon Property (SPG) to $204 from $194 and keeps a Buy rating on the shares. The firm notes the company’s Q4 core results were strong with record leasing and demand for space at dominant retail centers. BofA maintains a positive view on Simon Property based on continued strong underlying core metrics, redevelopment/ densification opportunities at strong returns, 3) acquisition opportunities, and platform initiatives.