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Fly News Breaks for April 20, 2018
MAC
Apr 20, 2018 | 07:29 EDT
KeyBanc analyst Todd Thomas said yesterday's announcement that Art Coppola will retire from his position as chairman and CEO of Macerich on December 31 is "surprising," and comes at a time when two activist investors have reportedly staked interests in the company. Thomas, who has an Overweight rating and $75 price target on shares, thinks Coppola's retirement may be viewed as a potential catalyst for a transaction to materialize, and sees shares outperforming on the announcement.
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