Mizuho Securities Upgrades The Macerich Company (MAC) to Buy

November 7, 2016 7:55 AM EST
Get Alerts MAC Hot Sheet
Price: $70.37 +0.23%

Rating Summary:
    8 Buy, 17 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Mizuho Securities upgraded The Macerich Company (NYSE: MAC) from Neutral to Buy with a price target of $84.00.

Analyst Haendel St. Juste commented, "We are upgrading MAC to Buy from Neutral with a $84 price target based on an 15% warranted discount to our $98.50 NAV estimate at a 4.6% cap rate. At current levels, MAC shares offer substantial value, in our view, trading at 68% of NAV, despite owning an high productivity (mid-$600 psf of sales) portfolio concentrated on the East and West coasts (as well as Chicago and Phoenix) heavily weighted in affluent, dense MSAs characterized by high s/f home prices and highly-educated populations."

For an analyst ratings summary and ratings history on The Macerich Company click here. For more ratings news on The Macerich Company click here.

Shares of The Macerich Company closed at $67.57 yesterday.

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