January 28, 2013 / 4:30 PM / 5 years ago

STXNEWS LATAM-Credit Suisse cuts BR Malls rating on dimmer retail outlook

Credit Suisse Group analysts lowered their recommendation on shares of Brazilian mall operator BR Malls Participações SA on Monday to “neutral” from “outperform,” citing a tougher outlook for retailers and new acquisitions this year.

The analysts cut their 12-month target price for the stock by 10 percent to 28 reais. The prospect for slower sales growth in 2013 is likely to weigh especially on the major chains in BR Malls’ shopping centers, wrote analysts led by Guilherme Rocha.

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