Barclays Maintains an 'Equalweight' on Brookfield Properties (BPO); Corporate Evolution

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Barclays maintains an 'Equalweight' on Brookfield Properties (NYSE: BPO) price target of $18.00.

Analyst, Ross L. Smotrich, said, "First-quarter results were mostly in line and overshadowed by the announcement of top-level management changes...We are increasing our FY2012 FFO estimate to $1.10ps, from $1.09ps, to reflect the 1Q12 beat; our 2013 estimate remains $1.15ps. Our estimates imply flat operating FFO in 2012 (-4% reported) and 5% growth in 2013. We project 8% annual operating FFO growth from 2011-2016 and 13% annual CAD growth."

"We believe the stock fairly reflects strong growth potential offset by material 2013 leasing and refinancing risk."

For an analyst ratings summary and ratings history on Brookfield Properties click here. For more ratings news on Brookfield Properties click here.

Shares of Brookfield Properties closed at $16.73 yesterday, with a 52 week range of $12.80-$20.07.

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