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MAC

Macerich

$42.79

-2.06 (-4.59%)

19:36
12/19/18
12/19
19:36
12/19/18
19:36

Macerich downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc analyst Todd Thomas downgraded Macerich to Sector Weight from Overweight with a price target of $75.

MAC Macerich
$42.79

-2.06 (-4.59%)

12/19/18
JPMS
12/19/18
DOWNGRADE
Target $50
JPMS
Underweight
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.
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.

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BBT

BB&T

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0.25 (0.47%)

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SAM

Boston Beer

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SBNY

Signature Bank

$118.68

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NGG

National Grid

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Liberty Latin America

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Cirrus Logic

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XHR

Xenia Hotels

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Sohu.com

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Verona Pharma

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ERIC

Ericsson

$8.63

0.175 (2.07%)

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NFLX

Netflix

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NFLX

Netflix

$286.83

2.59 (0.91%)

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XOG

Extraction Oil & Gas

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TCS

Container Store

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Eurazeo

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