As reported earlier, BMO Capital analyst R. Jeremy Metz upgraded Macerich to Outperform from Market Perform and raised his price target $66 from $62, saying the departure of long-time CEO Art Coppola "clears a significant roadblock" amid activist involvement and discount valuation. Metz adds there is potential for an "inflection" in fundamentals in FY18/19 and accelerating in same-store net operating income from more long-term oriented decisions by mall tenants that could lead to recovery in the stock price. The analyst contends that Macerich has "one of the most desirable US mall portfolio".