REA jumped +3.4% yesterday buoyed by the combination of strong Real Estate & Tech Sectors, at this stage we don’t see any reason to fade either of these respective moves. Ten days ago Macquarie came out with their “7 safe haven stocks” plus 2 sells one of which was REA, ultimately they may prove to be on point but the timing feels off following Wednesday’s CPI, perhaps they should have angled towards 7 recovery stocks!
- No change, we continue to target the $150 area, or 10% higher, for our remaining REA position.
MM remains long and bullish REA short term
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