UBS Reiterates a 'Buy' on The Macerich Company (MAC); Stock Appears Attractively Valued at the Current Level

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UBS reiterates a 'Buy' on The Macerich Company (NYSE: MAC) price target raised from $55 to $60.

UBS analyst says, "We expect solid fundamental growth to continue into 2012 for MAC’s Class A/B+ mall portfolio, driven by incremental gains in pricing power and modest occupancy upside. We favor a strategy of using access to low-cost debt capital to prepay, fix, and term out variable rate debt coming due in ‘13, as well as the continued upgrade of portfolio quality through acquisitions and ramp in re/development."

UBS raises FY12 EPS estimate from $3.18 to $3.42, but lowers FY13 from $3.40 to $3.30.

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 $55.50 yesterday, with a 52 week range of $38.64-$56.50.

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