Keefe, Bruyette & Woods Downgrades SPG To Market Perform

Simon Property Group, Inc. SPG reported shares up nearly 6.6% last week vs. RMZ +5.9%. SPG shares trade at 34% premium to $72.25/share NAC est. vs. 10% average, premium for sector and 2% historical, Keefe Bruyette & Woods reports. Given the retail & economic uncertainties and stock improvement, Keefe, Bruyette & Woods has downgraded SPG to Market Perform and maintains its $100 price target. Simon Property Group, Inc. closed yesterday at $96.48.