UPDATE: Jefferies & Company Upgrades Tanger Factory Outlet Centers to Buy, Raises PT

In a report published Friday, Jefferies & Company upgraded its rating on Tanger Factory Outlet Centers

to Buy, and raised its price target from $34.00 to $37.00. Jefferies noted, “We believe SKT is set up for strong earnings growth in 2013/2014 given the recent development project announcements. As such, SKT's valuation looks attractive relative to its improved earnings outlook. We are raising our estimates and price target on SKT, and upgrading SKT to a BUY rating.” Tanger Factory Outlet Centers closed on Thursday at $31.83.