UPDATE: Morgan Stanley Upgrades Boston Properties to Overweight on Quality Portfolio, Strong Developmental Pipeline

In a report published Tuesday, Morgan Stanley analyst Vance H. Edelson upgraded the rating on Boston Properties BXP from Equal-Weight to Overweight, and raised the price target from $113.00 to $123.00. In the report, Edelson noted, “While we're cautious on the Office group, BXP is a bellwether REIT with a quality portfolio and strong development pipeline. East Coast fundamentals are slowly on the mend and BXP has exposure to niche verticals as well. The stock has underperformed as investors pulled out of higher quality names and is now attractively valued and as a blue chip, should be a beneficiary of inbound international fund flows. Our Investor Connect survey suggests potential upside for the shares.” Boston Properties closed on Monday at $108.16.
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Posted In: Analyst ColorUpgradesAnalyst RatingsMorgan Stanley
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