Compass Point raised the firm’s price target on BXP to $70 from $60 and keeps a Neutral rating on the shares. Most REIT dedicated investors are avoiding the office sector, which means the company currently lacks the traditional longer-term investor support that historically helped it maintain a premium valuation to sector peers, the analyst tells investors. However, the firm raised its price target to reflect the fact office REITs have partially re-rated due to the prospect of interest rate cuts later in 2024.
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Read More on BXP:
- BXP price target raised to $75 from $67 at BofA
- BXP upgraded to Buy from Hold at Jefferies
- BXP price target raised to $62 from $52 at Morgan Stanley
- BXP price target raised to $77 from $60 at Piper Sandler
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