CMA

CMA: is -1.4% at $1.76, after an early jump to $1.795, its highest since Apr '11. The stock is retracing a bit of yday's 5.0% surge, with several analysts saying they are puzzled by the rise as there isn't co-specific news. "Even when they do big deals, the stock price doesn't normally react significantly," one analyst says. A couple analysts note Citi initiated the stock at Buy with TP $2.08 Tuesday, calling it "a top-class retail-mall developer/operator." Another analyst notes Credit Suisse has upgraded its view on China, where much of CMA's portfolio is located; the house says China's "worst is probably over and investors should add some beta to their portfolio." It cites signs of consumption growth picking up, with a retail-sales pickup during the recent holidays, and it tips China discretionary plays as better proxies to play the "economy bottom-up story" vs China staples. The Apr '11 peak at $1.90 may offer a near-term cap, while the $1.69 10-day moving average likely offers near-term support.