CMA: Deutsche issues note maintaining Buy with TP$2.55 on MOU with Parco to explore business collaborations in China and Japan. This will improve co’s efforts to bring Japanese retailers into Asia mkts, explore opportunities for investment and grow the business in Japan where CMA has 7 malls. Parco’s network includes 20 malls in key cities in Japan and 1 property Millenia Walk in Sg...
House sees this as positive move and will enable it to maintain its competitive edge by maintaining a diverse tenant mix and minimize leasing risk. CMA has rebounded from its historical low of $1.57 and appears to be finally breaking out of its downtrend. See support at $1.83 and may be worth a look after it corrects from current overbought state.
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