Simon Property price target raised to $225 from $219 at BofA

BofA raised the firm’s price target on Simon Property (SPG) to $225 from $219 and keeps a Buy rating on the shares. Operating metrics suggest “the healthiest fundamental backdrop for malls in years,” but the stock’s relative valuation is still well below levels seen during “historically constructive periods,” says the analyst, who sees price upside of 11% from today if the valuation framework “partially shifts back toward these prior levels.”