UPDATE: Jefferies Raises PT on Boston Properties on 'Glimmers of Hope'

In a report published on Monday, Jefferies analyst Omotayo Okusanya raised the price target on

from $112 to $113 and maintained a Hold rating. In the report, Jefferies stated, "With the economy beginning to show real signs of improvement, we would expect to see office landlords, particularly those in CBD markets like NYC, Boston, and San Francisco, benefit from higher rents and occupancies. As such, we are moving to a Market Weight on Office from Underweight. We maintain a preference to niche office sectors (e.g. BMR) but are now neutral in regards to CBD (vs. our suburban preference previously)." Boston Properties closed on Friday at $101.94.