WPG - Washington Prime Group upgraded to Hold by Truist; stock bounces up

Washington Prime Group (WPG) stock climbs 8.1% in premarket trading after Truist's Ki Bin Kim upgrades the stock to Hold from Sell as the analyst lacks downside conviction "at these price levels."YTD, WPG shares have fallen 62% as the company struggles to restructure its debt after skipping an interest payment in February. See WPG total return vs. S&P 500 and peers PEI and SPG over the past year in chart below.Last week, WPG received an extension of its forbearance agreements with noteholders and lenders to April 14.

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Washington Prime Group upgraded to Hold by Truist; stock bounces up