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Fly News Breaks for November 26, 2018
MAC, TCO
Nov 26, 2018 | 16:27 EDT
Morgan Stanley analyst Richard Hill upgraded Taubman Centers (TCO) to Equal Weight while lowering his price target for the shares to $50 from $51.50. The analyst sees a more balanced risk/reward at current share levels saying consensus net asset value estimates are around 60% above the current stock price. The consensus believes Macerich (MAC) is a more likely takeover candidate than Taubman, "but it's not a given to us," Hill tells investors in a research note.
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