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Site Centers price target lowered to $16 from $18 at Citi

Citi lowered the firm’s price target on Site Centers (SITC) to $16 from $18 and keeps a Neutral rating on the shares. The firm updated its model for Site Centers to reflect Q3 results, increased disposition activity, and the removal of any acquisitions. Citi noted that its lowered price target reflects the decrease in its net asset value estimate of $15.51, down form $21.35.

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