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BMO Capital Markets Corp. initiates coverage of Simon Property Group at 'outperform'

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BMO Capital Markets Corp. initiates coverage of Simon Property Group at 'outperform'

BMOCapital Markets Corp. analyst Jeremy Metz initiated coverage ofSimon Property GroupInc. with a rating of "outperform," and a price target of$175.

The analyst wrote in a research report: "We areinitiating coverage of Simon Property Group with an Outperform rating and $175target price as we favor SPG's high-quality income stream, balance sheetstrength, and above-average earnings/dividend growth potential. Retail isfacing headwinds, so this isn't to say the road won't have bumps. However, wethink the best real estate will win over time, with the current environmentserving to differentiate better platforms and management teams, like SPG, intheir ability to create and exploit opportunities."