Boston Properties' $2.55B Pipeline To Deliver 4% CAGR In FY24-25: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst John P. Kim has reiterated an Outperform rating on Boston Properties, Inc. (BXP), raising the price target to $80 from $75. Kim remains bullish on BXP's healthy leasing activity, particularly in Midtown Manhattan and Boston CBD. BXP's $2.55 billion pipeline is expected to deliver 4% CAGR in 2024-25. However, Kim notes that the uncertainty in the financing market is a cause for concern. For FY24 and FY25, the analyst expects total revenue to surge 1.87% to $3.38 billion and 2.49% to $3.36 billion respectively.
September 08, 2023 | 6:18 pm
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Boston Properties, Inc. (BXP) has received an Outperform rating from BMO Capital Markets analyst John P. Kim, who has raised the price target to $80 from $75. The analyst expects BXP's $2.55 billion pipeline to deliver 4% CAGR in 2024-25.
The analyst's bullish outlook on BXP, along with the raised price target, could potentially lead to increased investor interest and a positive impact on the stock price in the short term. However, the uncertainty in the financing market could pose a risk.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100