Pursuits
Even Shopaholic Brazilians May Not Be Able to Sustain Mall Rally
- Recession taking toll on retailers as empty stores proliferate
- Developer shares have overperformed Ibovespa this year
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Think twice before chasing the rally in Brazilian mall stocks.
That’s the message from analysts surveyed by Bloomberg, who overwhelmingly advise against adding to investments in developers like Multiplan Empreendimentos Imobiliarios SA, Iguatemi Empresa de Shopping Centers SA and BR Malls Participacoes SA.