Frasers Group's sale of Sports Direct Malaysia makes sense and provides over 100 million pounds of cash inflow for the company, Jefferies analysts Andrew Wade and Grace Gilberg write. The sporting goods retailer, majority owned by Mike Ashley, said late Wednesday it had sold the business to MAP Active for $150 million and that the two would enter into a long-term partnership. Shares are down 0.9% at 746.50 pence, but up 10% over the year to date. Jefferies has a buy rating on the stock and an 11 pound target price. (ian.walker@wsj.com)