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Fly News Breaks for January 7, 2020
SPG
Jan 7, 2020 | 05:51 EDT
BMO Capital analyst Jeremy Metz downgraded Simon Property Group to Market Perform from Outperform with a price target of $156, down from $174. Despite an attractive valuation and 5% dividend yield, lingering closing pressures are subduing the company's earnings growth, Metz tells investors in a research note. As such, the analyst thinks share upside could be limited in the near term until "headline pressures ease and a path to better growth emerges."
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