Citi analyst Nicholas Joseph upgraded Macerich to Neutral from Sell with a price target of $17, up from $8. Despite its elevated leverage, the firm acknowledges that the financing market has stabilized and that operating fundamentals have continued to improve for the mall sector overall, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MAC:
- Macerich Marks 30 Years as Public Company, Rings Closing Bell at New York Stock Exchange
- Macerich announces grant of employment inducement award
- The Macerich Company Announces Grant of Employment Inducement Award in Connection with Appointment of Jackson Hsieh as President and Chief Executive Officer
- Bad News for Macerich Company Stock: This New Risk Has Been Added
- Macerich Company Appoints New CEO and Expands Board
