Mizuho Securities Upgrades The Macerich Company (MAC) to Buy
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
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."
Shares of The Macerich Company closed at $67.57 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
- Deutsche Bank Upgrades Parker-Hannifin (PH) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!