SM Prime Holdings, Inc.’s share price estimate was raised 22 percent Thursday by Macquarie Securities Ltd., which said the value of the largest mall operator isn’t reflected in the stock. Shares of SM Prime may rise to P11.20 in the next 12 months, compared with a June forecast  of P9.20, said Macquarie Securities, in a note to clients. ‘SM Prime now offers the best upside potential among property developers’, the firm’s Gilbet Lopez said. ‘SM Prime has a big return on equity advantage while also providing a high yield’.