Scotia Capital Has Sector Outperform on Brookfield Office Properties

Scotia Capital is out with a research report on Brookfield Office Properties

and it has a Sector Outperform rating and a $20 price target on shares. In a note to clients, Scotia Capital writes, "WSJ is reporting BPO has finalized a lease extension for 750,000 sf with BoA at World Financial Center (

), and is buying BoA's 49% interest in 4 WFC, a 2M sf tower. No financial metrics were disclosed." Shares of BPO closed at $14.14 yesterday.