UPDATE: Mizuho Securities Initiates Coverage On Boston Properties As Best-In-Class REIT

In a report published Monday, Mizuho Securities analyst Richard Anderson initiated coverage on

with a Buy rating and $144.00 price target. In the report, Mizuho Securities noted, “We are initiating coverage of BXP with Buy rating and a price target of $144. We view BXP as a best-in-class REIT on several measures, including asset quality, its development/leasing acumen, exclusive exposure in barrier markets, and a deep management bench. The Class A office portfolio is located in four markets: New York/Princeton (40% of the portfolio), Boston (30%), the Washington DC metro area (20%), and San Francisco Bay Area (11%). The risks are the stock is expensive by some measures, while a reliance on the technology industry is key factor behind the value creation.” Boston Properties closed on Friday at $126.34.