Simon Property Group (SPG) - Get Simon Property Group Inc. Report, an owner, developer, and manager of retail real estate, was upgraded this morning at Mizuho to "Buy" from "Neutral" with a $178 price target.
"We view SPG as a global powerhouse with a history of prudent and opportunistic capital allocation, warranting a premium to peers," Mizuho analyst Haendel St. Juste noted.
St Juste also views Simon Property's "fortress" balance sheet as a "key differentiator" that will allow it to take advantage of future opportunities.
Shares of the Indianapolis-based firm were climbing higher during early morning trading on Tuesday.
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