Brookfield Properties Downgraded to “Sector Perform” at CIBC (BPO)
Brookfield Properties (NYSE:BPO) was downgraded by CIBC from a “sector outperform” rating to a “sector perform” rating in a research note issued on Tuesday, Stock Ratings Network reports. They currently have a $20.00 price objective on the stock. CIBC’s price target indicates a potential upside of 4.88% from the stock’s previous close.
A number of other analysts have also recently weighed in on BPO. Analysts at Citigroup Inc. upgraded shares of Brookfield Properties (NYSE:BPO) from a “sell” rating to a “neutral” rating in a research note to investors on Tuesday. Separately, analysts at RBC Capital initiated coverage on shares of Brookfield Properties (NYSE:BPO) in a research note to investors on Tuesday, September 24th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of Brookfield Properties (NYSE:BPO) from $20.60 to $18.50 in a research note to investors on Wednesday, September 11th. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $20.88.
Brookfield Properties (NYSE:BPO) traded up 0.68% on Tuesday, hitting $19.20. 4,230,976 shares of the company’s stock traded hands. Brookfield Properties has a 52-week low of $15.25 and a 52-week high of $19.58. The stock’s 50-day moving average is $16. and its 200-day moving average is $17.15. The company has a market cap of $9.698 billion and a P/E ratio of 7.59.
Brookfield Properties (NYSE:BPO) last released its earnings data on Friday, July 26th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.31 by $0.03. The company had revenue of $569.00 million for the quarter, compared to the consensus estimate of $605.65 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts predict that Brookfield Properties will post $1.16 earnings per share for the current fiscal year.
Brookfield Properties Corporation (NYSE:BPO) is a North American commercial real estate company.
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