BUZZ-Scotiabank upgrades Macerich, Deutsche Bank starts coverage

Reuters12-18

** Scotiabank upgrades rating, raises PT of retail real estate investment trust Macerich

** Raises rating to "sector perform" from "sector underperform", PT by $5 to $22

** Says rating based on co's earlier-than-expected progress on its "path forward" real estate management plan, says execution of plan the key piece of the MAC story today

** Also says co's new management, no longer beholden to assets, is taking a healthy approach to portfolio management

** Deutsche Bank initiates coverage on stock with "hold" rating and PT of $22

** One of 14 brokerages covering the stock rate it "strong buy", eight "hold" and five "sell"; with a median PT of $20- data compiled by LSEG

** Up to last close, stock had risen ~40% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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