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.
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Read More on MAC:
- Macerich upgraded to Buy from Neutral at BofA
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- Macerich price target raised to $20 from $18 at Evercore ISI
- Macerich’s Earnings Call Highlights Strong Leasing and Strategic Moves
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