Bank of America Provides Color on Simon Property

According to a recent report, Bank of American recently sat down for dinner with executives from Simon Property SPG. The SPG executives remain optimistic about prospects to grow their portfolio and although the overall tone of the meeting was upbeat, SPG acknowledged the decreasing GDP numbers. After the meeting, Bank of America has maintained a Buy rating and $122.00 price target on Simon Properties. In the report, Bank of America said, "We note one advantage the company has is its multiple platforms which offer different avenues of growth, so while ground-up mall developments may not be an opportunistic way to grow the portfolio for some time, outlets and redevelopments remain an active & attractive avenue of growth." Simon Properties closed yesterday at $113.90.