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MAC

Macerich

$44.85

0.05 (0.11%)

08:07
12/19/18
12/19
08:07
12/19/18
08:07

Macerich downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Anthony Paolone downgraded Macerich to Underweight and lowered his price target for the shares to $50 from $57.

MAC Macerich
$44.85

0.05 (0.11%)

12/18/18
BTIG
12/18/18
NO CHANGE
Target $61
BTIG
Buy
Macerich price target lowered to $61 from $63 at BTIG
BTIG analyst James Sullivan lowered his price target on Macerich to $61 and also lowered his FY19 FFO view to $3.76 from $3.87, citing the impact of Sears liquidation and the higher assumption of leasing costs under the new accounting standard in the near term. Longer term, the analyst keeps his Buy rating and states that the company's same-store net operating income growth "turned decidedly positive" in Q3 with a 3.7% gain - the highest since Q3 of 2016. Sullivan anticipates "continued" stronger comps as long as the recession concerns are not realized in 2019.
12/14/18
BMOC
12/14/18
NO CHANGE
Target $56
BMOC
Outperform
Macerich price target lowered to $56 from $64 at BMO Capital
BMO Capital analyst R. Jeremy Metz lowered his price target on Macerich to $56, citing the company's latest rejection of buyout speculation in spite of its stock price closing at a 7-year low yesterday. The analyst notes that the decline has been driven by the widening valuation gap, "long-in-the-tooth" cycle, rising capital expenditures, and the exit of its CEO Art Coppola at the end of the year. Metz also keeps his Outperform rating on the shares, stating 2018 could mark an inflection point for the company as same-store net operating income accelerates next year. The analyst further states that "Macerich has one of the more desirable U.S. mall portfolios and a significant holding by Ontario Teachers."
11/27/18
11/27/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hormel Foods (HRL) downgraded to Hold from Buy at Jefferies with analyst Akshay Jagdale citing valuation. 2. Wyndham Hotels & Resorts (WH) downgraded to Buy from Conviction Buy at Goldman Sachs while Wyndham Destinations (WYND) was downgraded to Neutral from Buy. 3. U.S. Bancorp (USB) downgraded to Hold from Buy at Deutsche Bank with analyst Matthew O'Connor citing valuation. 4. Macerich (MAC) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Richard Hill saying he believes the market is underappreciating the company's free cash flow declines in 2019 and 2020. 5. Athenahealth (ATHN) downgraded to Market Perform from Outperform at Wells Fargo with analyst Jamie Stockton saying he suspects a proxy will come out in the next week or two detailing the full process since June to try to sell the company, which ultimately resulted in Veritas Capital and Elliott Management making a $135 all-cash offer on November 12. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/26/18
MSCO
11/26/18
DOWNGRADE
Target $45
MSCO
Underweight
Macerich downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Richard Hill downgraded Macerich (MAC) to Underweight and lowered his price target for the shares to $45 from $58. The analyst believes the market is underappreciating the company's free cash flow declines in 2019 and 2020. Macerich's dividend payout ratio is over 100% of free cash flow, says Hill. Further, the consensus believes Macerich is a more likely takeover candidate than Taubman (TCO), "but it's not a given to us," Hill tells investors in a research note. The analyst coupled the downgrade of Macerich with an upgrade of Taubman to Equal Weight.

TODAY'S FREE FLY STORIES

PG

Procter & Gamble

$119.04

1.55 (1.32%)

, MCD

McDonald's

$209.85

1.365 (0.65%)

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Procter & Gamble

$119.04

1.55 (1.32%)

MCD

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$209.85

1.365 (0.65%)

UTX

United Technologies

$138.24

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NEE

NextEra Energy

$232.85

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LMT

Lockheed Martin

$373.16

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UPS

UPS

$118.56

1.23 (1.05%)

SHW

Sherwin-Williams

$551.04

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KMB

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TRV

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PCAR

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FITB

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CNC

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$45.83

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RF

Regions Financial

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0.305 (1.93%)

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$51.78

0.09 (0.17%)

HAS

Hasbro

$120.11

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TRU

TransUnion

$82.55

1.055 (1.29%)

DGX

Quest Diagnostics

$102.21

-0.465 (-0.45%)

IPG

Interpublic Group

$20.79

0.14 (0.68%)

HOG

Harley-Davidson

$37.14

0.555 (1.52%)

PII

Polaris Industries

$91.55

0.935 (1.03%)

SNV

Synovus

$36.30

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JBLU

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GPK

Graphic Packaging

$14.86

0.205 (1.40%)

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OISHY

Oil Search

$0.00

(0.00%)

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EA

Electronic Arts

$95.81

0.63 (0.66%)

19:53
10/21/19
10/21
19:53
10/21/19
19:53
Downgrade
Electronic Arts rating change  »

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TWTR

Twitter

$40.09

1.11 (2.85%)

, FB

Facebook

$189.82

3.865 (2.08%)

19:48
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TWTR

Twitter

$40.09

1.11 (2.85%)

FB

Facebook

$189.82

3.865 (2.08%)

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IRDM

Iridium

$24.23

-0.05 (-0.21%)

19:44
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ERIC

Ericsson

$9.12

-0.075 (-0.82%)

, NVDA

Nvidia

$196.16

5.69 (2.99%)

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ERIC

Ericsson

$9.12

-0.075 (-0.82%)

NVDA

Nvidia

$196.16

5.69 (2.99%)

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NVDA

Nvidia

$196.16

5.69 (2.99%)

, MSFT

Microsoft

$138.43

1.09 (0.79%)

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NVDA

Nvidia

$196.16

5.69 (2.99%)

MSFT

Microsoft

$138.43

1.09 (0.79%)

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USB

U.S. Bancorp

$56.19

1.125 (2.04%)

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ADBE

Adobe

$266.84

1.42 (0.54%)

, AAPL

Apple

$240.49

4.2 (1.78%)

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Periodicals
Adobe to roll out Illustrator app for iPad in 2020, Bloomberg reports »

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ADBE

Adobe

$266.84

1.42 (0.54%)

AAPL

Apple

$240.49

4.2 (1.78%)

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NVDA

Nvidia

$196.16

5.69 (2.99%)

, IBM

IBM

$132.55

-1.55 (-1.16%)

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NVDA

Nvidia

$196.16

5.69 (2.99%)

IBM

IBM

$132.55

-1.55 (-1.16%)

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SMBC

Southern Missouri Bancorp

$36.24

0.38 (1.06%)

18:43
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Earnings
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CDNS

Cadence Design

$66.67

1.07 (1.63%)

, AMTD

TD Ameritrade

$37.65

0.86 (2.34%)

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CDNS

Cadence Design

$66.67

1.07 (1.63%)

AMTD

TD Ameritrade

$37.65

0.86 (2.34%)

HLX

Helix Energy

$8.32

0.31 (3.87%)

ZION

Zions Bancorp

$45.68

0.96 (2.15%)

STMP

Stamps.com

$76.12

0.55 (0.73%)

UPS

UPS

$118.56

1.23 (1.05%)

FBP

First BanCorp

$10.24

-0.015 (-0.15%)

VRTX

Vertex

$183.73

7.49 (4.25%)

KDMN

Kadmon

$3.08

0.17 (5.84%)

TACO

Del Taco

$9.66

0.26 (2.77%)

HXL

Hexcel

$74.59

-1.62 (-2.13%)

SITC

Site Centers

$15.27

0.175 (1.16%)

ADC

Agree Realty

$77.01

1.365 (1.80%)

CE

Celanese

$121.37

-0.3 (-0.25%)

HHC

Howard Hughes

$128.38

2.41 (1.91%)

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USB

U.S. Bancorp

$56.19

1.125 (2.04%)

18:31
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U.S. Bancorp to cut thousands of jobs from its branches, Bloomberg says »

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HLX

Helix Energy

$8.32

0.31 (3.87%)

18:16
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Earnings
Helix Energy reports Q3 EPS 21c, consensus 16c »

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CVX

Chevron

$116.66

1.87 (1.63%)

18:07
10/21/19
10/21
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18:07
Periodicals
U.S. Treasury to let Chevron drill in Venezuela for 3 more months, Reuters says »

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SFTBF

SoftBank

$0.00

(0.00%)

, WE

We Company

$0.00

(0.00%)

18:03
10/21/19
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18:03
Periodicals
SoftBank's WeWork offer would lead to co-founder's exit, Reuters says »

SoftBank (SFTBF) offered…

SFTBF

SoftBank

$0.00

(0.00%)

WE

We Company

$0.00

(0.00%)

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FDEF

First Defiance Financial

$29.51

0.4 (1.37%)

17:59
10/21/19
10/21
17:59
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17:59
Earnings
First Defiance Financial reports Q3 EPS 66c, consensus 60c »

Reports Q3 net…

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UNFI

United Natural Foods

$6.91

0.35 (5.34%)

17:56
10/21/19
10/21
17:56
10/21/19
17:56
Recommendations
United Natural Foods analyst commentary  »

United Natural Foods…

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FCPT

Four Corners Property Trust

$28.35

0.135 (0.48%)

17:45
10/21/19
10/21
17:45
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17:45
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Four Corners Property Trust acquires Maryland property for $2M »

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RTN

Raytheon

$202.21

2.41 (1.21%)

17:39
10/21/19
10/21
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17:39
Hot Stocks
Raytheon awarded $128.45M Air Force contract for mobile sensors maintenance »

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GNTY

Guaranty Bancshares

$30.22

0.02 (0.07%)

17:38
10/21/19
10/21
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10/21/19
17:38
Earnings
Guaranty Bancshares reports Q3 EPS 65c, consensus 56c »

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CNC

Centene

$45.83

-1.09 (-2.32%)

, WCG

WellCare

$271.41

-3.13 (-1.14%)

17:32
10/21/19
10/21
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17:32
Hot Stocks
Centene announces $500M share repurchase plan »

In a regulatory filing,…

CNC

Centene

$45.83

-1.09 (-2.32%)

WCG

WellCare

$271.41

-3.13 (-1.14%)

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SSFN

Stewardship Financial

$15.64

(0.00%)

17:26
10/21/19
10/21
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10/21/19
17:26
Hot Stocks
Stewardship Financial, Columbia Financial get regulatory approval to merge »

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TOPS

TOP Ships

$4.20

-0.22 (-4.98%)

17:24
10/21/19
10/21
17:24
10/21/19
17:24
Syndicate
Breaking Syndicate news story on TOP Ships »

TOP Ships files $200M…

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RNST

Renasant

$35.82

-0.19 (-0.53%)

17:23
10/21/19
10/21
17:23
10/21/19
17:23
Hot Stocks
Renasant board approves new $50M share repurchase program »

"We closed the…

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