UBS Downgrades The Macerich Company (MAC) to Neutral; Further Upside Looks Limited

UBS downgraded The Macerich Company (NYSE: MAC) from Buy to Neutral with a price target of $61.00.

Analyst, Christy McElroy, said, "MAC shares up 22% YTD, vs. a 14% increase in the RMZ, the shares now trade in line with our price target of $61 and appear fairly valued to us at a 5.6% implied cap rate and roughly in line with FW NAV and DCF. Following Q112 results and adjustments to our financial and valuation models, our positive views on the fundamentals and growth story are unchanged but we don’t see a compelling reason to raise our target price. As such, we’re downgrading to Neutral."

FY12 EPS estimate raised from $3.10 to $3.15 and FY13 from $3.30 to $3.34.

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 $60.37 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
• Macerich Announces Pricing of Upsized Offering of $675 Million Exchangeable Senior Notes due 2031
• The Macerich Company (MAC) PT Raised to $29 at Citi