Macerich price target raised to $15 from $13 at Truist

Truist analyst Ki Bin Kim raised the firm’s price target on Macerich to $15 from $13 and keeps a Hold rating on the shares. The analyst said that higher projected land sales in 2023 is the primary reason for increasing 2023 estimates. Bin Kim added that higher revenues on stronger occupancy were offset by higher interest expense.