Canaccord Genuity Maintains a 'Buy' on Brookfield Properties (BPO); More Constructive Look at Lower Manhattan Office Leasing Exposure
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Price: $20.52 --0%
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on Brookfield Properties (NYSE: BPO), PT $25.
Canaccord analyst says, "BPO remains one of our Focus List picks, and we believe management is executing well on all fronts to transform the company into the only global class A office pure play. With its closet peer trading Boston Properties (NYSE: BXP)(Not rated) at 22.9x 2011E FFO, we believe BPO remains fundamentally undervalued at 17.7x."
"A big picture view at Lower Manhattan’s prospects. Simply put, we believe
investors should no longer see the BofA/ML (NYSE: BAC) 2013 lease maturity (4.6 million sf) as a source of downside – it is increasingly becoming a source of upside."
For more ratings news on Brookfield Properties click here and for the rating history of Brookfield Properties click here.
Shares of Brookfield Properties closed at $19.39 yesterday.
Canaccord analyst says, "BPO remains one of our Focus List picks, and we believe management is executing well on all fronts to transform the company into the only global class A office pure play. With its closet peer trading Boston Properties (NYSE: BXP)(Not rated) at 22.9x 2011E FFO, we believe BPO remains fundamentally undervalued at 17.7x."
"A big picture view at Lower Manhattan’s prospects. Simply put, we believe
investors should no longer see the BofA/ML (NYSE: BAC) 2013 lease maturity (4.6 million sf) as a source of downside – it is increasingly becoming a source of upside."
For more ratings news on Brookfield Properties click here and for the rating history of Brookfield Properties click here.
Shares of Brookfield Properties closed at $19.39 yesterday.
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