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Analyst Doubts Macerich’s New CEO Strategy, Can They Turn Things Around?

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The Macerich Company (NYSE:MAC) shares traded lower on Wednesday after Piper Sandler analyst Alexander Goldfarb downgraded the stock from Neutral to Under Weight and lowered the price target from $17 to $11.

On Tuesday, the company reported Q1 sales of $208.783 million, beating the consensus of $205.112 million and FFO of $0.33.

The company welcomed Jackson Hsieh as the new CEO and president and withdrew its FY24 guidance.

The analyst writes that they think …

Full story available on Benzinga.com

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