UPDATE: Credit Suisse Raising Price Target On Simon Property Group

Credit Suisse is out with a research report on Simon Property Group. Inc. SPG and is raising its price target to $130, and it has an Outperform rating on shares. In a note to clients, Credit Suisse writes, ""Best in Class" Outlet Business/JV Takeouts set the company up for Upside Surprise. Our model presumes an annual 2.9% (2012-15) same store operating income growth, 70 basis points above our mall coverage average, as we believe the company's outlet division will continue to have outsized rent growth relative to enclosed mall peers. Our 2013 estimate (3.4% above consensus) presumes minimal acquisitions, a conservative assumption if the company can buy out large venture partners." Shares of SPG are down $2.00 to $114.03 in early Tuesday trading.