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Scotiabank analyst Greg McGinnis lowered the firm’s price target on Macerich (MAC) to $21 from $22 and keeps a Sector Perform rating on the shares. The company continues to make progress on its Path Forward Plan, although its pace will slow in 2025 and 2026, the analyst tells investors. Scotiabank believes there is “still wood to chop” at the company and successful execution will be reflected in valuation upside.

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