General Growth Properties (GGP) Is Back In Favor
General Growth Properties (GGP) is attracting big interest from some major players on Wall Street. General Growth was facing bankruptcy last year and now its shares are becoming attractive again based on a proposed bid by Simon Property Group. Simon Property Group offered $10 billion dollars for the 2nd largest mall owner in the US.
Bill Ackman of Pershing Square Capital believes that General Growth Properties is worth 3 to 4 times the offer price. This would place the stock's value somewhere between $30 to $40 per share.
On CNBC's Fast Money, famed value investor Whitney Tilson owns shares of General Growth Properties (GGP) and believes that the company is worth $30 to Simon Property Group. He believes that $15 is a floor for the stock.
Karen Finerman of CNBC's Fast Money recommends that investors that have an appetite for risk buy shares of General Growth Properties.
