TD Newcrest Downgrades Brookfield Properties (BPO) to Hold; Premier Developments To Add Value, But Patience is Required
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Price: $20.52 --0%
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 11
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 11
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TD Newcrest downgraded Brookfield Properties (NYSE: BPO) from Buy to Hold, price target lowered from $20 to $16.50.
TD analyst says, "While we reiterate our view that BPO is well-positioned to capitalize on attractive value creation opportunities over the medium and long term, we now believe that near-term news flow will be more mixed, thereby limiting the potential for share price appreciation. We are moving to a HOLD rating, as a result of reduced AFFO estimates and target price, as well as electing to take a more cautious stance on BPO’s leverage (given increasing credit market risks)."
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 $14.98 yesterday.
TD analyst says, "While we reiterate our view that BPO is well-positioned to capitalize on attractive value creation opportunities over the medium and long term, we now believe that near-term news flow will be more mixed, thereby limiting the potential for share price appreciation. We are moving to a HOLD rating, as a result of reduced AFFO estimates and target price, as well as electing to take a more cautious stance on BPO’s leverage (given increasing credit market risks)."
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 $14.98 yesterday.
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