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Fly News Breaks for February 11, 2020
SPG, TCO
Feb 11, 2020 | 07:28 EDT
Wells Fargo analyst Tammi Fique lowered Simon Property's (SPG) price target to $168 from $182, while keeping an Overweight rating on the shares. The analyst believes Taubman's (TCO) high-quality portfolio and discounted valuation make it an opportune, albeit contrarian, time for Simon to acquire the Taubman portfolio. However, Fique thinks Simon Property's shares could underperform peers until the Taubman deal closes.