Morgan Stanley Downgrades Simon Property Group to Equal-Weight, Raises Price Target to $143
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Ronald Kamdem has downgraded Simon Property Group (NYSE:SPG) from Overweight to Equal-Weight while increasing the price target from $132 to $143.

December 21, 2023 | 11:47 am
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Simon Property Group was downgraded by Morgan Stanley from Overweight to Equal-Weight, although the price target was raised from $132 to $143.
The downgrade to Equal-Weight suggests that Morgan Stanley sees limited upside potential for SPG, aligning it with market performance expectations. However, the increase in the price target to $143 indicates a belief that the stock still has room to grow, albeit at a pace that is consistent with the market. This mixed signal could lead to a neutral short-term impact on the stock price as investors digest both the downgrade and the increased price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100