Bloomberg News

Massmart Heads for Biggest Fall in a Month on Analyst Cut

February 24, 2012

Feb. 24 (Bloomberg) -- Massmart Holdings Ltd., a South African retailer controlled by Wal-Mart Stores Inc., headed for its biggest fall in more than a month after the stock was cut to “underperform” from “neutral” at Macquarie Research, with a 160-rand price estimate.

Shares in Massmart declined 2.1 percent to 174.82 rand as of 2:17 p.m. in Johannesburg, the most on a closing basis since Jan. 13 and the lowest since Feb. 14.

To contact the editor responsible for this story: Stephen Gunnion at sgunnion@bloomberg.net


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