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Brookfield Properties Corp. (NYSE:BPO) is looking pretty cheap these days, according to analysts. With the company’s share price down almost 20% since peaking in February it could be a buying opportunity.

Gail Mifsud, real estate analyst at Blackmont Capital, noted Brookfield trades at about the same level as Equity Office Properties Trust traded at before it was sold. “Equity Office is of inferior quality,” he said.

Neil Downey, an analyst with RBC Capital Markets, raised his rating on Brookfield to "outperform."

“While it would difficult to suggest BPO’s shares are substantially undervalued, we believe the current price represents an attractive entry point for those seeking exposure to one of North America’s highest quality office portfolio and strongest development franchises,” said Mr. Downey.

BPO 1-yr chart:

BPO 1-yr chart

Source: Analysts See Entry Point Into Brookfield Properties