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Fly News Breaks for January 15, 2020
MAC
Jan 15, 2020 | 05:06 EDT
Mizuho analyst Haendel St. Juste downgraded Macerich to Underperform from Neutral with a $24 price target. Despite a discounted valuation, Macerich faces "several earnings headwinds" in 2020, which creates more downside than upside risk for the stock. The analyst sees potential downside from Forever21 and other retailer tenant bankruptcies and store closures.