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Fly News Breaks for December 17, 2019
MAC
Dec 17, 2019 | 07:07 EDT
KeyBanc analyst Craig Mailman downgraded Macerich to Underweight from Sector Weight with a $21.50 price target as part of a broader research note on the REIT sector. The analyst says he expects fundamentals to remain challenged in 2020 as the company looks to stabilize its operations and balance sheet. He sees a lack of catalysts outside of M&A to cause shares to outperform in the near-term. Additionally, he says he is concerned that fundamentals may fall short of expectations in 2020 and that there is no clear path to reducing leverage.
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