UPDATE: Stifel Nicolaus Raising Price Target On Simon Property Group

Stifel Nicolaus is out with a research report on Simon Property Group SPG and is raising its price target to $130 from $120, and it has a Buy rating on shares. In a note to clients, Stifel Nicolaus writes, "Simon's high productivity portfolio continues to generate impressive growth. We believe Simon will generate sector leading growth from its high quality regional mall and outlet center portfolio. We maintain our Buy rating and are increasing our target price to $130, a slight premium to our $128 NAV estimate at a 5.5% cap rate on 2012 estimated NOI." Shares of SPG closed at $119.21 yesterday.