CMA: Analysts are of view that after a block trade of 42m shares (approx 1.1% of total issued shares) was completed, the overhang on CMA share price might be over. The major sh/h who sold is rumoured to be Capital Grp which has been consistently paring down its stake with last reported 4.95% as of end-July. At current price CMA is trading at approx 0.8x to book.
Stanchart maintains Outperform with TP$1.76 and that co is a value play at 0.6x RNAV. CS upgrades to Outperform with TP$1.78 with current price a discount at 0.6x RNAV as well. CMA posted a 8.5% gain closing at last traded price of $1.28.