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Fly News Breaks for September 18, 2017
TCO
Sep 18, 2017 | 07:33 EDT
Morgan Stanley analyst Richard Hill downgraded Taubman Centers to Underweight from Equal Weight, stating that while Taubman owns the highest quality portfolio of malls, its Q2 results showed its smaller portfolio may give it less negotiating leverage with retailers than peers. Additionally, Taubman is the only Class A REIT where he expects same-store growth to turn negative in the second half of the year, he tells investors. Hill lowered his price target on Taubman shares to $47 from $56.
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