UPDATE: Stifel Nicolaus Raises PT to $18 on General Growth Properties
Stifel Nicolaus reiterates its Buy rating on General Growth Properties (NYSE: GGP) and increases its target by $1 to $18 as the company's portfolio appears well positioned for growth.
Stifel Nicolaus says, "The "post Rouse spin" GGP portfolio appears well-positioned to generate stronger growth and improved operating fundamentals in 2012 and beyond. We maintain our Buy rating and we are increasing our price target to $18 based on our NAV estimate at a 6% cap rate."
GGP closed at $16.67 a share on Wednesday.
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