As previously reported, BofA upgraded Macerich (MAC) to Buy from Neutral with a price target of $23, up from $19, based on improvements to portfolio composition that have raised key operating metrics, a stronger balance sheet with “a clear deleveraging path, and solid leasing progress. The firm, which expects strong NOI growth in 2026-28, driven by lease-up, SNO commencement, major capital projects and other incremental redevelopments, notes that its 2028 FFO estimates have been increased to 8.2% above consensus.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MAC:
- Macerich upgraded to Buy from Neutral at BofA
- Positive Outlook for Macerich: Strong Growth Prospects and Financial Stability Drive Buy Rating
- Macerich price target raised to $20 from $18 at Evercore ISI
- Macerich’s Earnings Call Highlights Strong Leasing and Strategic Moves
- Macerich price target raised to $18 from $16 at Scotiabank