KeyBanc upgraded BioMed Realty Trust BMR from Hold to Buy and announced a $24.00 price target.
KeyBanc commented, "Following strong execution on the leasing front, a pipeline of accretive investment activity and a reloading of the balance sheet, we are upgrading shares of BioMed Realty Trust (BMR-NYSE) to BUY from HOLD, and establishing a $24 per share price target. Supported by significant strength in the life science sector, the Company made impressive progress on the leasing front over the last five quarters, driving portfolio occupancy up by more than 500 bps to a healthy 89.2%; we suspect the recent robust pace of FDA drug approvals and private capital investment will translate into additional occupancy upside over the next year."
BioMed Realty Trust closed at $20.97 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in